Venmo will allow users to buy and sell cryptocurrencies on its app, the company said Tuesday, the latest mainstream financial platform to wade into alternative currency like Bitcoin.
In addition to Bitcoin, Venmo has opened up the platform to Ethereum, Litecoin, and Bitcoin Cash — generally considered to be among the mainstream of the digital currencies. Despite the social media-proclaimed arrival of Doge Day Tuesday, the cryptocurrency Dogecoin is not on the list to be cleared for trade on Venmo. Crypto buyers will be able to publish their purchases or sells on Venmo's social feed as well.
Bitcoin has attracted massive interest, particularly in the last 18 months. Its price has held steadily above $50,000, and the value of other cryptocurrencies has been on the rise.
The digital currency trading platform Coinbase went public earlier this month, giving the company a valuation of more than $80 billion. Companies like Tesla now accept Bitcoin as a form of payment on its cars.
Venmo will only allow users to buy, sell or hold cryptocurrencies. The company is not allowing its users to send these currencies as a form of payment between users yet.
President Donald Trump says a deal struck by Netflix last week to buy Warner Bros. Discovery “could be a problem” because of the size of the combined market share. The Republican president says he will be involved in the decision about whether federal regulators should approve the deal. Trump commented Sunday when he was asked about the deal as he walked the red carpet at the Kennedy Center Honors. The $72 billion deal would bring together two of the biggest players in television and film and potentially reshape the entertainment industry.
Disney's changes to a program for disabled visitors are facing challenges in federal court and through a shareholder proposal. The Disability Access Service program, which allows disabled visitors to skip long lines, was overhauled last year. Disney now mostly limits the program to those with developmental disabilities like autism who have difficulty waiting in lines. The changes have sparked criticism from some disability advocates. A shareholder proposal submitted by disability advocates calls for an independent review of Disney's disability policies. Disney plans to block this proposal, claiming it's misleading. It's the latest struggle by Disney to accommodate disabled visitors while stopping past abuses by some theme park guests.
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