We’re quickly approaching the “ember” months, and you know what that means. Time to get out the Christmas shopping list 🎄. But, August still has some surprises left for us. Let’s take a look at last week’s biggest news:
The “Write” Way to Get Paid ✍️
Attention, Substack writers! 🔊 If you’ve got an account on the popular publishing platform and want to get paid in crypto, we’ve got news for you. Substack has partnered with OpenNode to allow publications and writers to get paid in Bitcoin 👏. The new feature isn’t available for everyone yet, but a bigger rollout is coming soon 👍.
Put That Stimmy Check to Work 🪙
Last year, the U.S. government gave COVID-19 stimulus checks to every eligible citizen 💵. Well, a new report showed that 11% of young Americans used their stimulus checks to buy crypto 😃. 60% of the participants also said they view crypto as a good long-term investment. If you currently have some crypto investments, you’ve got to feel good right now. NFA, though 😉.
DeFi To the Moon 🚀
When the market fell earlier this year, a lot of people backed off decentralized finance (DeFi). Now that things are up again, DeFi is popping 📈. In the past month, the top 10 DeFi coins have gained 20%. Data also showed that the total funds locked in DeFi apps hit a record of $175 billion last week 🤯.
China is Still Pissed 😔
Just when you think that the Chinese government won’t mess with crypto miners anymore, they go on and say, “Hold my beer.”🍺 Last week, reports confirmed that the government of Yingjiang County cut off all crypto miners from its power supply 😔. All power plants in the region will cut supply to miners, and the government wants to drive them out.
A Five-Star Experience 🇨🇭
If you’re traveling to Switzerland anytime soon, you might want to keep some coins with you 🙃. The Chedi Andermatt, a five-star hotel in the Swiss Alps, now reportedly accepts Bitcoin and Ether. Guests paying bills worth over 200 Swiss francs ($218) can now pay using crypto. Another point for adoption! ✅