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Crypto Flipsider News – August 11th

News in Micro Bites: the Infrastructure Bill, Largest Crypto Hack, PNC Bank

Crypto Cash back with PayPal’s Venmo

PayPal has a long-standing reputation as being a crypto supporter. Its mobile payment outfit, Venmo, has finally launched a new feature for crypto enthusiasts: a crypto cash back tool. Whenever a user gets cash back from purchases made with a Venmo credit card, the service can automatically buy crypto for them.

The tool is free-of-charge, although all cash back will be baked into one monthly transaction for the sake of a better user experience. Currently, the available cryptos are BTC, ETH, LTC, and BCH.

TRON to Set up $300M Fund for Game Finance Expansion

The TRON Foundation is setting up a $300 million TRON Arcade fund for the GameFi space for the upcoming 3 years. The move comes as a strategic maneuver to expand it’s blockchain adoption.

Game Finance (GameFi) works by utilizing a play-to-earn mechanism, which allows players to receive digital assets as rewards for gaming. The blockchain gaming sector has boomed in 2021. $2.6 billion in investments poured into space in Q1 of 2021 alone.

Chainalysis Has Included Dogecoin in Its Reports

One of the biggest blockchain intelligence companies, Chainalysis, has announced that it will start covering Dogecoin (DOGE) in its reports.

The leading memecoin quickly became one of the most popular crypto assets on the market. However, Its utility in criminal activity likewise increased. DOGE has also become popular in high-risk jurisdictions such as Iran.

DOGE is now the 5th most traded cryptocurrency in 2021. It currently ranks as the 7th largest coin by market cap.

NFT Updates: A Twitter Giveaway, the Bored Ape Yacht Club

Twitter’s giveaway generated over $5M in trading volume. A month ago, Twitter randomly prized its users with 140 NFTs. Now, they are valued at 1,700 ETH (worth over $5.3 million) on the biggest NFT marketplace, OpenSea.

The Bored Ape Yacht Club donated 66.45 ETH ($208,000) to Orangutan Outreach, an orangutan charity. This is a CryptoPunk-like NFT collectible game, the cheapest NFT of which trades starting at 15 ETH ($47,000) for now. This isn’t the first time the company has engaged in charity work, as it has previously donated 135 ETH ($419,000) to various animal foundations.

Source: DailyCoin


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