Serum becomes latest token in Bankman-fried empire to turn heads

Cryptocurrency traders were agog last August when prices for the digital token serum (SRM) jumped 10-fold on its first day of trading after being listed on crypto exchange Binance.
But another 10-fold increase since then is sparking a new wave of speculation among digital-market experts over the token’s future – apparently tied to the growing popularity of the affiliated decentralized exchange Serum, which is built on top of the Solana blockchain, and championed by Sam Bankman-Fried of the FTX crypto exchange and Alameda Research trading company.
Prices for the Serum token shot up Tuesday to an all-time high of $11.13, according to the data firm Messari. The market capitalization now sits around $500 million, well below the $22 billion for the leading decentralized exchange Uniswap’s UNI token but still enough to turn heads. As of press time, SRM was changing hands at around $9.27.
Some analysts have attributed the recent success of the Serum project and Solana blockchain to their association with Bankman-Fried, who garnered headlines recently for his $135 million deal to name the basketball team Miami Heat’s home arena after the FTX exchange. According to a blog post last July, FTX and Alameda created Serum and chose Solana as its foundational blockchain.
“Traders perhaps saw Alameda Research-related names as safe havens” during last week’s crypto-market sell-off,  said Mira Christanto, a research analyst at Messari.
Bankman-Fried, who serves as CEO of FTX, told CoinDesk in a LinkedIn chat that he isn’t sure why serum token has surged this week in particular, but he said it was “probably” following Solana’s SOL tokens, which have climbed 24-fold this year, for a market value of between $12 billion and $22 billion, depending on how it’s calculated.
Earlier this month, Alameda Research led investors in a $2 million fundraising round for Step Finance, a trading dashboard born out of a Solana-focused hackathon. The Solana Foundation, which supports development on the Solana blockchain, received $40 million in fresh funding in March.
A key talking point on Serum is that it provides a user experience similar to what traders see on big centralized cryptocurrency exchanges. That could make the project more attractive to traders who seek transactions that are faster and cheaper but also easier to use in comparison to other decentralized exchanges, like PancakeSwap on the Binance-backed blockchain Binance Smart Chain.
PancakeSwap has received criticism for being a copycat of Uniswap, which sits atop the Ethereum network.
“Serum is very different from Ethereum-based DEXs because it built a central limit order book (CLOB), which is what you would typically see in centralized exchanges,” Christanto said. “This isn’t possible on Ethereum or Binance Smart Chain, where automated market makers (AMMs) are more popular.”
A central limit order book is possible on Solana partly because of its high scalability, supporting 500k transactions per second (tps). On Binance Smart Chain, the maximum is 300 tps. On Ethereum, it’s 18 tps.
“Solana isn’t as fast as centralized exchanges, like FTX, but it is the first decentralized exchange to be able to provide a CLOB,” Christanto said.
Danny Kim, head of revenue at crypto prime dealer SFOX, said serum’s recent price gains may also be the result of excitement over Step Finance, which provides up to 3,500% annual percentage rate (APR) on deposits of its STEP tokens. All asset pools, liquidity and swaps on Step Finance are routed via Serum, according to Step Finance’s website.
As Anatoly Yakovenko, co-founder of Solana Labs, noted in a post on Medium, if the first phase of decentralized finance – DeFi 1.0 as it were – was focused on innovation in money markets, including lending and borrowing, then DeFi 2.0, as powered by Serum, would bring “high-speed trading and derivatives.”
“Solana has become a protocol for traders, with a number of projects being built to focus on what traders and investors will need in DeFi,” SFOX’s Kim said. “Fast, secure and scalable.”
Automated market makers “have grown in popularity on Ethereum primarily because they make it easy for yield and risk-insensitive asset owners to provide liquidity to the market,” Yakovenko wrote. “However, that doesn’t mean that AMMs are the optimal mechanism to provide liquidity. AMMs are obviously lacking in many dimensions. Most notably, capital efficiency.”
It’s still wait-and-see whether Serum will eventually pose any real threats to popular DEXs on Ethereum and BSC. Data from CoinGecko shows that Serum has about $52 million in daily trading volume, while on Ethereum-based Uniswap, the 24-hour trading volume was at more than $1.3 billion at press time, according to Dune Analytics.

WisdomTree launches ‘lowest price’ Ethereum ETP

The WisdomTree Ethereum ETP (ETHW) listed today (29 April) on Börse Xetra and SIX, the Swiss Stock Exchange.
WisdomTree claims it now provides the lowest priced physically-backed ether and bitcoin ETPs in Europe, both with a total expense ratio of 0.95% and passported across the European Union.
WisdomTree Ethereum ETP offers investors a simple, secure and cost-efficient way to gain exposure to the price of ether, while utilising the best of traditional financial infrastructure and product structuring.
ETHW is a best-in-class ETP, complementing our market leading bitcoin ETP, and launched at a time when interest in digital assets is at its highest.”
The ETP enables investors to access ether without the need to hold the cryptocurrency directly, store private access keys or interact with the blockchain or digital currency infrastructure in any way.
Investors also get access to institutional grade storage solutions without any need to set it up with a custodian themselves. The ETP is the preferred structure for institutional investors allocating to digital assets as it fits seamlessly within current portfolio management structures.
Jason Guthrie, Head of Capital Markets and Digital Assets, said: “The expansion of our digital assets range is a significant milestone and further demonstrates our commitment to delivering innovative digital asset solutions for institutional investors.
“ETHW is a best-in-class ETP, complementing our market leading bitcoin ETP, and launched at a time when interest in digital assets is at its highest. With this increase in popularity, institutional investors are doing their due diligence on the most liquid cryptocurrencies and we expect the pace of adoption across these to ramp up as the opportunity in digital assets becomes more compelling.”
The launch of ETHW represents the latest development for WisdomTree’s digital assets platform and follows the passporting of WisdomTree Bitcoin (BTCW) into Europe and its listing on Börse Xetra. WisdomTree also appointed Coinbase, in March 2021, as a second custodian for WisdomTree Bitcoin. ETHW also leverages this multiple custodian approach, delivering the safety investors have come to expect from WisdomTree ETPs.
In addition to institutional class custody solutions for investors, the ETP wrapper has added new dimensions to the crypto universe, like more liquid and transparent trading and more sophisticated market participants entering the arena for these products. The multi-custodian model will offer enhanced connectivity between WisdomTree and the wider crypto market, potentially providing greater liquidity for the underlying digital currency.
Today’s launch of WisdomTree Ethereum taps into WisdomTree’s tradition of innovation and leverages the firm’s deep expertise in physically-backed ETPs. Investors in WisdomTree Ethereum will have an entitlement to an amount of ether. Investors can view each share’s coin entitlement and the total amount of ether secured in custody, corresponding to the total coin entitlement, on its website.
Alexis Marinof, Head of Europe, WisdomTree, said: “Since launching our first digital asset ETP we’ve seen the level of interest amongst institutional investors grow significantly. The asset class is still in its infancy but 2020 was an important year for the asset class and institutional investors are waking up to the potential digital assets can bring to portfolios as a diversifier. Our digital assets platform is growing alongside institutional demand. By adding ETHW to our range, we now have the products and research capabilities to support institutional investors whether they are considering making their first allocations to digital assets or looking to diversify their exposures.”
Jonathan Steinberg, CEO, WisdomTree, said: “Our digital assets initiative reinforces and expands upon our core business strengths while reflecting what we see as the future of investment management. The latest developments across our digital assets platform position us well for success and reflect our commitment to this evolving asset class which is quickly becoming top of mind for institutional investors globally.”
WisdomTree Ethereum is passported in Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Netherlands, Norway, Spain and Sweden.

PancakeSwap & UniSwap hit all-time high over Ethereum’s gas problem

Automated Market Maker PancakeSwap (CAKE) hit an all-time high of $40.11 minutes before press time on Wednesday night.
CAKE was trading 10.35% higher at $39.35 at press time. PancakeSwap has spiked 50.52% on a seven-day trailing basis and hit an all-time high.
Another automated trading facilitator of decentralized finance (DeFi) tokens, UniSwap (UNI), too hit an all-time high of $43.89 on Wednesday. UNI traded 5.25% higher at $42.29 at the time.
CAKE and UNI have surged 6,208.11% and 717.98% since the beginning of the year.
SushiSwap (SUSHI), another DeFi coin, traded 2.6% higher at $14.19 at press time.
Binance Smart Chain-backed PanCakeSwap has helped bring the number of transactions Binance’s smart-contract blockchain to five times those on the Ethereum (ETH) blockchain, according to CoinDesk.
Binance Smart Chain (BSC) is a blockchain network designed for running smart contract-based applications. BSC runs in parallel with Binance’s native Binance Chain (BC), which enables its users to get the best of both sectors: the high transaction capacity of BC and the smart contract functionality of BSC.
Additionally, Binance Smart Chain also implements the Ethereum Virtual Machine (EVM), which allows it to run Ethereum-based applications like MetaMask.
The platform aims to allow developers to build decentralized applications (DApps) and help users manage their digital assets cross-chain with low latency and large capacity.
“New retail entrants are seemingly coming in straight to BSC/PancakeSwap through TrustWallet due to low fees,” according to Avi Sanyal, head of trading at BlockTower Capital, reported CoinDesk.
Polygon (MATIC) too has witnessed ten a 10x rise in the number of transactions since the beginning of the year according to Alex Svanevik, CEO of Nansen, a blockchain data firm, as per a separate report.
Both CAKE And MATIC have benefitted due to high congestion and resulting steep transaction costs on Ethereum (ETH) — referred to as “Gas.”
ETH traded 2.11% higher at $2,689.57 at press time, a level near its all-time high too. Binance ecosystem’s native token BNB traded 1.1% higher at $569.65.

Analyst: Bitcoin will always be the gold and Ethereum the silver

Investor Kevin O’ Leary says that Ethereum will always be No. 2 and bitcoin will always be the leading cryptocurrency. O’ Leary, the chairman of O’Shares ETFs, added that Bitcoin will always be gold while Ethereum will always be silver.
O’Leary sees Bitcoin as digital gold and a hedge against inflation and that it will continue to appreciate gradually. In March, O’Leary announced that he would be allocating 3 percent of his portfolio to Bitcoin. He decided on Canada, and other countries eased restrictions on institutions purchasing cryptocurrency.


O’Leary thinks that Ethereum will remain a form of tracking and payment system. However, many Ethereum supporters disagree with him; they argue that Ethereum is capable of more.
Ethereum is popular for its smart contracts; the contracts help build and power applications like DeFi (decentralized fiancé) apps and NFTs (nonfungible tokens).
These capabilities make investors like Mark Cuban excited about its future. Cuban believes that the intelligent contract makes Ethereum unique.


Cuban said that Ethereum is the crypto that is closer to an actual currency. O’Leary did not acknowledge that Ethereum can have an upside shift in Ethereum 2.0.
Ethereum 2.0 was launched in 2020 and has since then been rolling out. Investors see Ethereum 2.0 as a faster ether and can enable thousands of transactions per second on the blockchain. They are also more secure.
O’Leary sees Ethereum 2.0 as more efficient in energy consumption since it does not consume a lot during creation. But still, with that, O’Leary does not think Ethereum will ever overtake Bitcoin.


However, experts still warn cryptocurrency investors of the risky and volatile market they are getting into. They still see it as susceptible to fraud and likely to be hurt by government regulations. Crypto investors are advised only to invest what they can afford to lose.

Dogecoin price soars as Elon Musk names himself the ‘Dogefather’

The price of dogecoin increased from $0.25 to $0.30 in less than 15 minutes after Elon Musk posted a cryptic tweet reading: “The Dogefather”.
The spike came after a price slump last week, when the meme-inspired cryptocurrency dropped after hitting an all-time high, Reuters reported.
Supporters of the cryptocurrency used hashtags to fuel a rally, bumping up the price of dogecoin, until it finally lost steam.
This recent spike pushes the value of the joke currency back towards the record highs that it experienced earlier this month.
It was announced on Saturday that Elon Musk would be hosting Saturday Night Live next month – with Miley Cyrus as the musical guest.
The 28-year-old singer announced the news with just an image of their names on the SNL cork board.
The official Saturday Night Live Twitter account soon shared the image and added a caption of three spaceships.
Fans were surprised to learn the Tesla CEO would be headlining the long-running sketch show.
One fan wrote to SNL on Twitter: “April Fool’s Day was like three weeks ago.”
Another begged: “Guys please this better be a joke.”
A third upset fan tweeted: “Imagine ruining a great season with this and thinking it’s a good idea!!!!”
Others called for the NBC show to change its mind and remove Elon from the schedule.
Elon Musk’s recent tweet calling himself Dogefather suggested that he planned to discuss dogecoin during his feature on the show next month.
While the SpaceX founder reportedly does not have significant holdings of dogecoin, he has been known to post about dogecoin on Twitter, often prompting its value to rise.
The virtual “money” started as an internet parody more than seven years ago, according to CNN, but has since become a legitimate digital currency.
Jackson Palmer, an Australian marketer, made a joke about combining cryptocurrency and the Doge meme in 2013, but that joke has taken on a life of its own: its market capitalization is now over $17 billion.
Dogecoin is simply a digital coin with a picture of dog on it, according to CNET. That dog is the subject of an internet meme of a Shibe with an “inner monologue” featuring phrases like “so scare,” “much noble,” and “wow.”
In January, Musk noted that his posts about dogecoin are “just meant to be jokes”.
But they clearly have a significant impact on the value of the cryptocurrency.
In response to his tweet, several people replied with various memes of Musk with “Doge” and with phrases like “Dogerise” and “Doge taking over the world!”
“Anything Musk tweets about shoots higher because he has such a strong following both on social media and as a businessman,” Neil Wilson, chief market analyst at, told Yahoo! Finance in February.
“People will literally invest in him and his ideas, and don’t care what the fundamentals are.”
Musk tweeted quite a bit about Dogecoin in February, posting comments like, “dogecoin is the people’s crypto,” “No need to be a gigachad to own,” and, “No highs, no lows, only Doge.”
Following that flurry of tweets, the price of dogecoin increased more than 50 percent.

Iran will allow mined Bitcoin to be used for import payments

The Central Bank of Iran (CBI) will allow banks, currency exchanges, and licensed miners to use Bitcoin and other cryptocurrencies for import payments.
According to a report from the Iranian site Financial Tribune, The CBI of Iran has issued a notification to banks and licensed exchanges about the new regulatory framework for import Bitcoin payments. The government will soon pass a bill to clarify the regulatory whether in the country.

Using Bitcoin for Import Payments by Iran, a Tool to Avoid US Sanctions

The tension between the US and Iran exacerbated through the years, and the U.S. Treasury Department has somewhat crippled Iran’s economy, heavily depending on international trades such as gas and electricity.
In this regard, Iran has been exploring the benefits of cryptocurrencies and how they can help the country bypass sanctions. As reported, Iran became the world’s first to constitute Bitcoin as a medium of exchange on October 29, 2020. By January 2021, the government issued over 1,000 licenses for cryptocurrency mining equipment, even providing power plants to miners.
Crypto mining is legal in Iran, but every miner needs to have a license from the Ministry of Industry, Mine, and Trade to operate legally. Licensed miners must sell mined BTC to Iran’s Central bank through the provided channels by the entity.
Iran’s history with cryptocurrencies was turbulent at first, and mining crypto was illegal until 2019. After reporting many blackouts across the country, local authorities seized 45,000 BTC mining rigs in January this year, blaming crypto farms for their “intensive electricity use.

Crypto in Countries With Hyperinflation

Iran is not the first country to use crypto as an alternative to avoid US sanctions although. As reported by CryptoPotato, Venezuela is one of the most active countries in this regard too. Venezuelans usually trade Bitcoin through LocalBitcoin —a P2P marketplace where buyers and sellers offer rates and payment methods.
Cryptocurrencies and stablecoins are also becoming an alternative for many savers and investors in Argentina, which is now experiencing a severe financial crisis. Like Venezuelans, Argentinians are now flocking to cryptocurrency exchanges and P2P marketplaces to buy and sell crypto assets and to protect themselves from currency inflation.

ETH/USD price analysis: RSI enters overbought, brace for correction

ETH/USD price analysis shows that it closed at 2663.30 after placing a high of 2663.30 and a low of 2532.25. Ethereum prices reached a new ATH on Tuesday after the Berlin upgrade led to a drop in gas fees and a surge in DeFi activity. The growing popularity in sectors such as decentralized finance (Defi) and non-fungible tokens (NFTs) has increased crypto adoption in 2021. This explosive growth that has been seen over the past few years would not have been possible without the Ethereum blockchain. This led the ETH price to break out to a new ATH above $2600 level after the successful launch of the Berlin upgrade on April 15.
The Berlin upgrade declined the average gas fees to a more manageable level, resulting in an increased trading volume in top decentralized exchanges including Uniswap and SushiSwap. As most top Defi and NFT products were currently operating on the Ethereum platform, the uptick in activity led to increased prices of ETH at a faster pace than BTC in the near term. Additionally, Opium Network, a Defi protocol, has launched a new way for users to increase returns on Ethereum via highly leveraged exposure. Meanwhile, Binance, the world’s largest crypto exchange platform by reported trading volume, announced that it would launch a NFT in June. This NFT marketplace will run on Binance Smart Chain (BSC) and Ethereum Network. It means the users of the market will view Ethereum NFTs in their Binance wallet account. This news added strength to the already rising ETH prices on Tuesday.
ETH/USD Daily Technical Price Analysis
Support Resistance
2575.94 2706.99
2488.57 2750.67
2444.89 2838.04
Pivot Point: 2619.62
The ETH/USD shows that the pair is trading at 2,613 level, take a bearish turn after being rejected at the resistance level of 2,737 level. The pair has closed tweezers top pattern on the four hourly timeframes and suggests the bearish correction below 2,737 level. On the lower side, the support holds around 2,437 levels today. The MACD value is holding above 0 levels, but the recent histograms suggest bearish bias in the pair. Meanwhile, the pair is also crossing below 50 EMA on a 4-hour chart. Let’s consider taking a sell trade below 2,737 level today.

Gaming giant ‘Nexon’ invests $100 million in Bitcoin

Bitcoin is showing a strong recovery after a drop of nearly 15% last week. Institutional adoption of BTC is increasing as large companies are adding Bitcoin to their balance sheets. Nexon, a leading gaming company in Japan, became the latest public company to join the Bitcoin club.
According to an official press release by the company, Nexon bought 1,717 Bitcoin for nearly 11 billion yen ($100 million) at an average price of $58,226 per BTC. Nexon mentioned that the recent investment accounts for about 2% of the company’s total cash.
Commenting on the latest announcement, Owen Mahoney, President and CEO of Nexon, said: “Our purchase of Bitcoin reflects a disciplined strategy for protecting shareholder value and for maintaining the purchasing power of our cash assets. In the current economic environment, we believe bitcoin offers long-term stability and liquidity while maintaining the value of our cash for future investments.”
Bitcoin faced a volatile April as the price of the world’s most valuable digital coin touched the high of $64,600 and a low of approximately $47,000 in the same month. As of writing, Bitcoin is trading near $55,000 with a market capitalization of more than $1.02 trillion. BTC’s market dominance dropped to the lowest level in more than 3 years at 49.4%.

Adoption of Bitcoin in Asia

The latest announcement from the Japanese gaming company Nexon came after Chinese app developer, Meitu revealed approximately $100 million investment in various cryptocurrency assets, including Bitcoin and Ethereum. Meitu bought nearly $40 million worth of ETH and BTC during the second week of March 2021 and accelerated its cryptocurrency portfolio with the addition of 386 Bitcoin and 16,000 Ethereum on 17 March. Changpeng Zhao, CEO of digital exchange Binance, recently mentioned in a Tweet that several large organizations in Asia are holding Bitcoin but they are not making it public.
Earlier this week, Dan Schulman, President and CEO of PayPal, highlighted the growing demand for Bitcoin and other digital currencies.

What are the top exchanges to buy and trade Dogecoin?

Dogecoin has grown to a market cap of over $45 billion while also reaching an all-time high of $0.49. With so many people trading cryptocurrency these days, it is important to know the top exchanges to buy and trade Dogecoin.
When Billy Markus and Jackson Palmer created Dogecoin in 2013, it was meant to be a joke to mock the crypto-mania at that time. It quickly faded into oblivion, with its value at almost next to nothing.
After being in oblivion for so long with a value close to nothing, Dogecoin shot back to the limelight in January 2021, soon after the Gamestop saga due to a tweet. Since then, it has been one euphoric rise over another with billionaires such as Mark Cuban, celebrities like Mia Khalifa, and Snoop Dogg, among many others, all tweeting about it.
The most influential support has come from the world’s second-richest man and car maker Tesla CEO, Elon Musk, whose continuous tweets about Dogecoin made it rise in value significantly. From a cryptocurrency for sillies, it has grown to a market cap of over $45 billion while also reaching an all-time high of $0.49, according to data from Coinmarketcap.
Here are some crypto top exchanges that offer the fast-rising crypto, Dogecoin:

If you are new to Dogecoin and trying to get the hang of the process when it comes to buying and trading, this top exchange is worth considering.
It is one of the easier ways to sell and purchase all cryptocurrencies like Dogecoin. You can buy Dogecoin on this platform with more than 20 fiat currencies, and with its Defi wallet, you will have access to your private keys. Apart from Dogecoin, it lists over 50 other cryptocurrencies.

  • The transaction fees are low
  • It is easy to convert your crypto to fiat money and vice versa
  • You can earn interest on your Dogecoin with
  • It has a wide variety of cryptocurrencies to trade-in
  • The security on the platform is quite strong
  • It offers prepaid Visa Cards
  • It offers an educative option in learning about crypto


  • The customer service needs improvement
  • It can be hard to navigate
  • Coins and other features on the platform are not universally available.

This is another platform where you can trade cryptocurrencies and other tokenized assets simply. It is not only restricted to cryptocurrencies such as Dogecoin and other digital tokens; it is a platform that enables you to also trade asset classes like shares of companies such as, Apple, Tesla, etc., and commodities like crude oil and gold.
With, you can use bank transfers, debit, and credit cards. What further makes the platform great is the accessibility of assets on the platform due to the tokenized assets available. It is also possible to transfer your cryptocurrency from the platform to compatible wallets.

  • Transaction fees are quite competitive without any hidden costs.
  • You can easily deposit and withdraw cryptocurrencies and fiat currency too.
  • There is a demo account option that lets you learn how to navigate the platform.
  • It has an exceptional execution speed.
  • It permits up to 1:500 leverage which enables users to increase their returns (there is a risk of loss in leverage)
  • It provides multiple assets such as cryptocurrencies, fiat money, shares, government bonds, commodities, and lots more.
  • The security of the platform is of the highest standards.
  • Users can earn free coins on the platform through the contest page
  • There are some features on the platform that also helps the users to manage their portfolio and hedge their risks.


  • Anonymity is not possible on the platform as it complies with AML and KYC laws.
  • While you will easily find popular cryptocurrencies like Bitcoin and Dogecoin when it comes to smaller projects and altcoins, their selection is limited.


AAX describes itself as an institutional-grade platform, and in some ways, it truly is. It is the first crypto exchange platform to be powered by the same technology powering the London Stock Exchange. This is the same technology used by Borsa Italiana, Johannesburg Stock Exchange, and Singapore Stock Exchange.
One of the top exchanges for trading Dogecoin Atom Asset Exchange is based in Asia and focuses on building a future-proof, scalable, and secure trading platform which will be capable of accommodating future institutional participation. The platform is quite secure, with the majority of its virtual assets stored in cold storage wallets which can only be assessed through multiple parties’ approval.

  • Buying cryptocurrency is quite easy as all you can do is with your credit card, debit card, or bank transfer.
  • Trading fees are relatively low.
  • You don’t need full KYC documentation to purchase Dogecoin and start trading
  • The platform supports over 40 cryptocurrencies for spot trading
  • It provides rewards for users
  • Its latency is ultra-low
  • It is quite easy to use the platform due to its interface
  • It is very secure


  • It provides only five cryptocurrencies for futures trading
  • The platform is quite new, which means it doesn’t have a reputation yet.


One of the top exchanges for buying Dogecoin, where you can safely and trade your coin is KuCoin. This crypto exchange platform was launched in 2017 and considered itself the people’s exchange, offering people a safe and simple platform to acquire and trade digital currencies.
The fees are also low as the platform charges just 0.1% of any trade as the fee, and where it is future trading, the fee is quite small too. While you can use fiat money to buy crypto, you cannot trade fiat to crypto on the platform, so you will have to trade crypto to crypto.

  • KuCoin exchange has multiple features that make it perfect for buying and trading your Dogecoin
  • You will also have access to many cryptocurrencies
  • You can trade anonymously, no need for verification
  • Users can make money off their crypto assets even without trading
  • Support is available 24/7
  • The platform is user-friendly


Trevor Lawrence to get paid in Bitcoin (BTC)

We’ve seen some athletes getting paid in cryptocurrency and Bitcoin. Now Trevor Lawrence is adding Bitcoin and other cryptocurrencies to his playbook.
Trevor Lawrence is set to cash in on multiple platforms. Lawrence, the likely No. 1 overall NFL draft pick, signed an endorsement deal with cryptocurrency investment app Blockfolio on Monday.
Lawrence, the star quarterback at Clemson, is widely expected be selected by the Jacksonville Jaguars in the NFL draft, which starts on Thursday night in Cleveland.
Trevor Lawrence signing bonus will come in cryptocurrency, which will be deposited into his Blockfolio account in different crypto coins like Bitcoin, Ethereum and Solana.
Bitcoin and other digital currencies have risen in value over the past 18 months as a greater number of companies and individuals have accepted them as a form of payment.
Bitcoin, which was worth less than $10,000 at the start of 2020, tripled in value over 2020 and now is trading at roughly $53,000 a coin.
Companies like Tesla now accept the currency as a form of payment on their electric cars, and companies like Square and Venmo now allow individuals to hold Bitcoin within their apps. The digital currency brokerage Coinbase went public this year at a value of more than $80 billion.
Several NFL players already are involved in cryptocurrency. Panthers veteran offensive tackle Russell Okung recently became an investor and adviser of Fold, a credit card that allows people to accumulate Bitcoin when they shop at retailers.
Okung, entering his 11th NFL season, tweeted late last year “Paid in Bitcoin” and tweeted on Monday that “Bitcoin is inevitable.”
Also, Chiefs tight end Sean Culkin, who is entering his fifth NFL season, tweeted on Monday that he’s converting his 2021 salary into Bitcoin (BTC). He has two receptions for 36 yards for his career. He spent his first three seasons with the Chargers before playing one game last season for the Ravens.