The state of crypto, just like the crypto market, remains promising – if volatile – in 2024.
While many observers may have believed that the crypto space would simply disappear after a wild start to the 2020s that saw it enter the mainstream and then implode; the incarceration of both FTX’s Sam Bankman-Fried and Binance’s Changpeng Zhao has paradoxically led to the opposite.
The number of cryptocurrency, blockchain or Web3 initiatives announced by Fortune 100 companies has increased 39% year-over-year and hit a record high in Q1 2024, per a Wednesday (June 12) report from Coinbase.
U.S. presidential candidate Donald Trump on Thursday (June 7) pitched himself as a “crypto president” during a San Francisco fundraiser last week.
And Binance’s Zhao is now the richest individual to ever spend time in a U.S. federal prison.
Still, 785 crypto thefts have taken place over the past 13 years of crypto’s history, totaling $19 billion of stolen digital assets, and serving as a reminder that the industry still has some maturing to do if it wants to shake the ongoing perception of being a haven for illicit and unregulated activity.
PYMNTS is keeping track of the latest initiatives driving the blockchain economy. Here is the must-read pulse check on the top Web3 news this week.
Read more: Last Week in Web3: Cross-Border Payments, Crypto Investments, User Education
Growing Crypto’s Mainstream Utility
MoonPay announced this Wednesday (June 12) that users in both the United Kingdom and European Union can now buy cryptocurrencies using PayPal, pointing to a growing trend of onboarding mainstream users as digital asset use grows in popularity.
To help smooth out onboarding across the digital asset ecosystem, blockchain firm Solana Labs has debuted Bond, a customer engagement platform for brands.
“By leveraging blockchain technology, Bond enables global brands to create personalized, transparent, and engaging digital experiences that deepen customer connections and drive long-term loyalty,” the company said Wednesday.
Also announced Wednesday, Figure Technology Solutions…
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