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.
These are the headlines you Need 2 Know for Friday, Dec. 21, 2018.
AppOnboard is looking to reinvent the app store by letting users instantly experience an app or game without having to download it. The company just raised $15 million in funding, bringing its total to $30 million this year. “We’re really excited to really re-invent the way that users consume apps,” Bryan Buskas, AppOnboard's chief operating officer told Cheddar on Thursday.
As Cheddar reflects on 2018, we are profiling the most innovative, flamboyant, and often-controversial entrepreneurs and corporate leaders who delivered the year's most memorable moments in business. Of the CEO Class of 2018, who was crowned Biggest Flirt? Class Clown? Cheddar's Most Outspoken Award Goes to Tim Cook.
As we round out 2018, we’re reviewing the year's biggest letdowns for investors. To commemorate all the epic fails, we ranked the biggest flops ー the companies that enjoyed a booming 2017, but fizzled in 2018.
Stocks plunged on Thursday for the second day running, as the renewed threat of a government shutdown over the Christmas holiday weekend contributed to residual market weakness after the Fed's latest rate hike.
To cap off a rough year for Snap Inc., employees have been told they won’t receive cash bonuses after the company failed to meet its business goals. Instead, top-performing employees are receiving a discretionary incentive bonus in the form of more stock, the people said. Snapchat's stock is trading at all-time lows.
CEO Mary Barra made national headlines when General Motors announced in late November that 14,000 salaried and hourly workers would be cut for the sake of the company's growth. Backlash against Barra was swift; it populated the White House Twitter feed and echoed through the hall of Congress.
Securly is a start-up with a simple mission: to keep kids safe online. And the artificial intelligence company has just raised $16 million in series B funding to expand the reach of its social media tracking capabilities to more parents and schools. “We are going to take this money and invest in research and development and scaling up sales and distribution across America,” CEO and co-founder Vinay Mahadik told Cheddar.
Proposed legislation in New York City would require “cashless" restaurants ー which only accept debit and credit cards and mobile payments ー to give customers the option to pay in cash, and fine any establishment that refuses to accept it. Jason Oxman, CEO of the Electronic Transactions Association, discussed the backlash against cashless retail with Cheddar.
This year marked the first voyage for Cheddar's weekly series Cheddar Rides, covering the changes happening in transportation and the future of getting from here to there. To celebrate the last episode of its inaugural year, Rides is looking at the road ahead.
