Amazon is looking to accept Bitcoin (BTC) payments this year, and is investigating its crypto token for 2022, CityAM reports.
An anonymous insider told the London financial media that Amazon plans to accept Bitcoin by the end of this year. “This is the key first stage of this crypto project, and the directive is coming from the very top… Jeff Bezos himself.”
Once Amazon has established a fast and secure method of Bitcoin payment, “Ethereum, Cardano and Bitcoin Cash will be next in line before they bring about eight of the most popular cryptocurrencies online,” she added. “It won’t take long because the plans are already there, and they have been working on them since 2019. This entire project is pretty much ready to roll.”
Additionally, the insider told CityAM that after a year of Amazon accepting crypto payments, the e-commerce behemoth will head towards creating its own cryptocurrency. “This then becomes a multi-level infrastructure where you can pay for goods and services or earn tokens in a loyalty scheme.”
Last week, the Amazon payments team started to seek a digital currency and blockchain expert, according to a recent job posting. It signals that Amazon may be taking a more serious look at cryptocurrencies, such as Bitcoin.
Amazon is seeking to hire an “experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap.” in May, tech giant Apple’s payment unit also posted a job description looking for a crypto-savvy, business development specialist to lead its “alternative payments” partnership program.
FTX, Binance Limit Leverage Trading To 20X
Crypto derivatives exchange FTX has lowered its limit on leverage trading from 101X to 20X. FTX would be making the first step in the industry to remove high-leverage trading service, said FTX CEO Sam Bankman-Fried (SBF).
The new leverage trading limit will hit “a tiny fraction of activity on the platform, and while many users have expressed that they like having the option, very few use it,” said SBF. “And it’s time, we think, to move on from it.”
In his tweets, SBF acknowledged there has been a bunch of discussions around high leverage (>20X). “And while we think that many of the arguments miss the mark, we also don’t think it’s an important part of the crypto ecosystem, and in some cases it’s not a healthy part of it,” he said.
FTX has focused on encouraging “responsible trading”, positioning its product and margin system to cater for sophisticated users. High-leverage trading makes up a small percentage of FTX’s trading volumes and is only used by a small portion of its user base. Bankman-Fried also pointed out that the average amount of leverage used on the exchange is only around 2X.
Following SBF’s announcement, Binance CEO Zhao Changpeng (CZ) said on Twitter that Binance futures started limiting new users to max 20x leverage on July 19. “We didn’t want to make this a thing,” CZ tweeted. “In the interest of Consumer Protection, we will apply this to existing users progressively over the next few weeks.”
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