Best Business & Cryptocurrency Stories of the Week: January 14th

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Many brands are starting to see a recovery despite the challenges initially introduced by the pandemic. Some companies, particularly those that have focused their efforts on expanding e-commerce ventures, have even seen profits soar even more than before.

HYPEBEAST has collected the best business and cryptocurrency stories of the week so that you can stay up to date on trends across all sectors.

Deal

1. Mystery Box Brand HEAT received a $ 5 million investment in Antler / LVMH

The investment will allow the company to raise its offer. “HEAT is here to break the traditional approach to luxury fashion,” CEO Joe Wilkinson told HYPEBEAST.

2. Reddit has reportedly selected Morgan Stanley and Goldman Sachs for help with its IPO

Sources told Reuters that JPMorgan Chase is also a major underwriter of the deal. Reddit unveiled IPO in December.

3. Instagram is reportedly developing a tool to allow users to rearrange their profile grid

Leaker Alessandro Paluzzi recently shared that the social media platform is “working on the possibility of modifying the profile grid by allowing you to rearrange posts in the order you prefer”. Screenshots shared on Twitter showed an “Edit Grid” button in the profile settings.

4. Twitter Spaces will not allow all hosts to record audio

The move is part of its effort to compete with Clubhouse. When you start a session, you can now press “Record Space” and the audio recording will be saved for 30 days, with public playback enabled as well.

5. PayPal is considering launching its own cryptocurrency

The payment company announced it is exploring the idea of ‚Äč‚Äčlaunching its own stablecoin. “I don’t think we’ve seen a stablecoin that works well for payments yet,” said Jose Fernandez da Ponte, PayPal’s senior vice president of cryptocurrencies and digital currencies. Bloomberg.

Crypto

1. Block by Jack Dorsey is getting into Bitcoin mining

Block, the financial services firm founded by Dorsey formerly known as Square Inc., is building a Bitcoin mining system. “We want to make mining more distributed and efficient in every way, from purchase, to setup, to maintenance, to mining,” tweeted Thomas Templeton, general manager of hardware at Block.

2. Bitcoin briefly fell below $ 40,000 USD and Ethereum dropped below $ 3,000 USD

These prices marked a steep drop for both coins: Bitcoin has not dropped below $ 40,000 USD since August, while Ethereum has managed to stay above $ 3,000 USD since September. Overall, the cryptocurrency market fell $ 0.92% on Monday, according to Coinbase.

3. Kim Kardashian and Floyd Mayweather were sued for promoting alleged crypto scam

Kim Kardashian and Floyd Mayweather Jr. have been sued along with several others for approving the EthereumMax cryptocurrency and sharing the coin’s posts with millions of followers on their social media platforms. The class action claims that EthereumMax is a “pump-and-dump” scheme created by a “mysterious group of cryptocurrency developers”.

4. Dogecoin went up in price after Elon Musk said it could be used for purchase Tesla goods

Dogecoin’s price jumped more than 15% on Friday, according to street data CNBC. The coin reached a price of $ 0.20 USD around 1:19 AM ET before settling at a price of $ 0.18 USD after 7:00 AM ET.

5. HYPETALKS is back with Doodles for a brand new discussion on Twitter Spaces

HYPEBEAST will be back for another installment of its HYPETALKS panel series on Monday 17th January, the Twitter spaces. The next session is titled “In Web3 and Beyond” and involves the creators of the Doodles community-led NFT project, including the founders Evan Keast, Giordano Castro and artist Burnt Toast (Scott Martin), to talk about art on the web3.

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