The "Internet of Money" and Future of Crypto Commerce
Litecoin, the 5th largest cryptocurrency by market cap, is on a tear, rallying over 50% during the past week. Kenneth Asare, CEO of LitePay, a Litecoin payment processor, was with us to explain why merchants need to be ready for the digital currency revolution.
On February 26th, 41 countries will have access to LitePay merchant payment processing. Retailers will be able to use LitePay's retail, e-commerce, billing, and donation tools to accept Litecoin payments from customers anywhere on earth. Asare said the platform is targeting people with access to smartphones, but not banking.
Asare said Litecoin is the 'internet of money.' He stressed that it's not a way to replace fiat currency or the stock exchange, and it's not something to invest in. Instead, this is the very beginning of a new way of sharing and transferring value, he said.
U.S. markets closed higher to end Monday's session, with tech stocks leading the advance. Gene Goldman, Chief Investment Officer at Cetera Financial Group, joins Cheddar News' Closing Bell to discuss the potential future of the major U.S. indexes, and how factors like policy moves from the federal reserve and the ongoing Ukraine-Russia war could impact volatility.
U.S. stocks closed Thursday at session lows to end the month of March, posting their worst quarter since the pandemic crash of 2020. However, March was the first positive of 2022. MJP Wealth Advisors President Brian Vendig joined Cheddar News' Closing Bell to discuss.
Venus Aerospace is joining the space tourism race in a nonconventional way. Instead of taking passengers to Mars or the Moon, the startup’s goal is to take passengers around the Earth — in less than an hour. Sarah "Sassie" Duggleby, CEO and co-founder, joined Cheddar News to talk about her company's innovative approach to travel and when she expects to carry passengers. "We would hope in the next five years we'll have our plane fully developed and then start entering into all the FAA certifications and qualifications in order to get to commercial flights," she said.
Ride-hailing service Uber has unveiled its plans to become a travel super app, which will include options for users to make plane and train arrangements directly.
If you've sold or exchanged any crypto in 2021, the IRS wants to know. Henry Yoshida, Co-founder & CEO, OF Rocket Dollar joined Cheddar's Opening Bell to discuss which crypto activities are taxable and how to best spend your tax refund.
