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.
Netflix is testing out a way to charge users who share their passwords with friends and family, and while it's not being introduced in the U.S. yet, it might one day. The streaming giant is under pressure to grow membership numbers after lackluster fourth-quarter guidance, and anticipated pressures as people return to work and face higher costs elsewhere, thanks to rising inflation. Will Netflix see increased customer cancellations if it implements a price hike for password sharing? Is the company only focusing on the investor, and not the subscriber? Seth Schachner, Managing Director at StratAmericas and Digital Business Executive, joins Closing Bell to discuss Netflix's plans to charge for password sharing, why the company is doing so, how it might hurt subscriber numbers and more.
Simeon Hyman, Chief Investment Strategist at ProShares, joins Cheddar News' Closing Bell, where he explains why his firm launched the Proshares Metaverse ETF today and how this portfolio offers the opportunity for success both now and in the future.
Medical cannabis company Akanda went public this week in what was the first traditional IPO of the month. Shares jumped about 163% in the stock's first day of trading. The London-based company says it hopes to supply medical cannabis products to wholesalers in international markets. Tej Virk, CEO of Akanda, joins Cheddar News' Closing Bell to discuss.
Software company Akeneo CEO Fred De Gombert joined Closing Bell to discuss its recently closed Series D funding round raising $135 million in its quest to redefine product information management. De Gombert said the company is set out to improve the product information category by harnessing the power of data, which comes at a time where customer behavior has shifted in the pandemic era. "We are more and more demanding as consumers when we are shopping online or even offline. We are looking for more and more information," De Gombert said.
Bioscience and genetic engineering company, Colossal, raised $60 million in a Series A funding round. Colossal is focused on developing new technologies and genetic tools to restore extinct species, and protect critically endangered species. One of the startup's long-term goals is to resurrect the woolly mammoth, and return it back to the arctic. Colossal also says it is developing technology that expands beyond animals, and has the potential to advance human health. Ben Lamm, co-founder and CEO of Colossal, joins Cheddar News' Closing Bell to discuss.
Nate Morris, Chairman and CEO of Rubicon, joins Cheddar Innovates to discuss how the company is creating a digital marketplace for waste and recycling, and how technology and sustainability will go hand in hand in the future.
Amazon has closed its $8.5 billion acquisition of Hollywood studio MGM, two days after European regulators said the deal “would not significantly reduce competition” in European markets.
