#22 The Least Boring Weekend Newsletter
Good Morning readers! 🍃
Are you eagerly awaiting news? Here you go!
China says all cryptocurrency-related transactions are illegal and must be banned.
Cryptocurrencies such as Bitcoin and Tether, according to the central bank, cannot be circulated in the market because they are not fiat currencies. The rise in cryptocurrency use has disturbed the “economic and financial order,” increasing “money laundering, illegal fund-raising, fraud, pyramid schemes, and other unlawful and criminal activities,” according to the report.
Bitcoin was down 5.5% at the time of publication.
D2C x CRYPTO
Robinhood Quietly Tests Crypto Wallet as Users Clamor for It.
Robinhood Markets Inc. is beta-testing a new cryptocurrency wallet and transfers feature for its app, a long-awaited step that will make it easier for clients to send and receive digital currencies like Bitcoin.
Consumers can utilize virtual currencies without needing to convert them to dollars using crypto-wallets. Customers can also store all of their virtual currencies in one place, which is secured by a private key.
Robinhood Chief Executive Officer, Vlad Tenev has said that adding crypto wallets is a priority for the company’s developers.
Robinhood customers also will have the ability to set up two-factor authentication to use the feature.
Virtual currency trading was a major driver of Robinhood's growth in the most recent quarter, accounting for nearly 41% of its net revenue. Dogecoin transactions accounted for almost 62 percent of the company's $233 million in cryptocurrency revenue, highlighting the importance of digital currency trading to the newly public company.
Code in Robinhood’s app has also revealed plans for spare change investing and an early deposit option for checking accounts.
Our Special Invite
We have a new episode on our podcast, How to E-commerce by Almund, we were in conversation with Steve Schuyler, the founder of JavaTwist LLC to talk about “the twist in ideas”.
JavaTwist LLC, which was founded in 2019, has come up with a whole new approach to beverage creation. The 'Arnold Palmer' is a mix of iced coffee and lemonade. It is light, flavorful, and refreshing. These items are also shelf-stable and ready to drink.
This success story began when Steve was intrigued as to how the combination of coffee and lemonade would taste, and after a little experimenting, it turned out to be a huge hit, with the idea earning a lot of praise.
When Steve first started in the CPG business with ready-to-drink beverages, he was warned that 98 percent of these goods fail, but he wasn't about to give up.
“I have to try and if I’m going to try, I want to fail. And if I’m going to fail, let me fail fast. How do I fail fast and that’s how I did it”, he said.
Listen to the episode here:
TOP READS FOR THIS WEEK
🍀 Walmart simplifies shopping for eco-friendly and healthy products.
🥛 Pea-Based Milk Maker Ripple Foods raises $60 Million to Expand.
🥋 ThirdLove launches into activewear.
👚 Stepping closer to conventional e-commerce, Stitch Fix touts 'Freestyle'
🎊 Mainfactor Raises $69M to Acquire Direct-To-Consumer Companies.
👟 Nike’s revenues rose by 12%, driven by direct-to-consumer sales.
In need of a job? We’ve got plenty awaiting you!
CHOOSE SUCCESS below and have a great week! ‘Get that D2C business runnin’.
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