Here’s what happened this week in the world of crypto.
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Welcome to Nonfungible Tidbits, a weekly roundup of news in crypto, NFTs and their related realms.
Our lead story this week is Twitter signing on as the first company to use Stripe’s new cryptocurrency payments feature. The social network plans to give creators — people who monetize their video, art and music directly through their relationships with the audience — the option of getting paid in a stablecoin.
We’ll also cover Coinbase launching a beta version of its NFT marketplace, New York lawmakers considering a moratorium on fossil-fuel powered cryptocurrency mining in the state, and a strange cyberattack on a DeFi protocol in which the hacker left the stolen cryptocurrency behind.
Stripe to begin cryptocurrency payments, starting with Twitter
Sarah Tew/CNET
Online payment processor Stripe said on Friday that it’ll allow businesses to pay their customers in cryptocurrencies. The first business that’s signed on for this feature is social media giant Twitter, which currently uses Stripe to pay creators. Right now the cryptocurrency that’ll be used for the payout is a stablecoin called USDCoin, or USDC. The value of the USDC stablecoin is pegged to the US dollar, which makes the value less volatile than that of other cryptocurrencies, like bitcoin.
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