MoneyGram and Ripple testing bank transfers of the XRP cryptocurrency. Fortune Staff Writer Jeff John Roberts explains why this partnership is so significant.
"Unlike Bitcoin or Ethereum, it (Ripple) is centrally controlled," explains Roberts. "This is Ripple's moment of truth because people are speculating on XRP." With transaction fees so high for Bitcoin, some investors are seeing Ripple as a good alternative.
"Ripple is at the forefront of blockchain technology and we look forward to piloting xRapid," MoneyGram CEO Alex Holmes said Thursday. In the release announcing this partnership, both Ripple and MoneyGram promoted the efficiency and speed of this digital currency.
Carlo's flying solo today, talking COP26 and climate change, another racially charged trial gets underway, SCOTUS takes on abortion and a stunning rise in traffic deaths points to a bigger societal breakdown sparked by the pandemic.
Amid weeks of recent controversy, Facebook this week announced it would be changing its corporate name to Meta as it pivots to the metaverse and virtual reality products. Dan Ives, Managing Director of Equity Research at Wedbush Securities, joins Cheddar News' Closing Bell to discuss the rebrand, whether chief Mark Zuckerberg can separate his identity from the company, and what the rebrand means for shareholders.
Cryptocurrency platform Blockchain.com launched margin trading on its exchange earlier this month. The company's Chief Business Officer, Lane Kasselman, joins Cheddar News' Closing Bell, where he discusses how margin trading works in the crypto space and what users will be able to do on the platform.
Apple reported strong fourth quarter earnings, but sales fell below expectations. CEO Tim Cook said chip shortages and manufacturing delays cost the company $6 billion. The issues have led to the newly-launched iPhone 13 Pro being in short supply around the world, as well as to back orders for Apple's new Macbook Pro. Exponential Investment Partners Managing Partner Kevin Riley joined Cheddar News' Closing Bell to discuss.
