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Coinbase is about to make cryptocurrency spending easier, thanks to a partnership with London-based startup WeGift.
Through WeGift, Coinbase users can purchase gift cards with cryptocurrencies stored in their wallets.
Cards purchased with crypto coins can be used at over 120 retailers, including Uber.
According to a July 24 Bloomberg report, the program will initially only be available to customers in certain European countries.
However, this is another step closer to bringing mainstream adoption to the cryptocurrency market.
Here is a recap of the top five cryptocurrencies by market cap as of 10:30 a.m. ET:
|Cryptocurrency||Market Cap||Price||Change (24h)|
|Bitcoin Cash (BCH)||$14,339,892,653||$830.99||-3.14%|
Now here's a closer look at the top cryptocurrency stories of the day…
The Top Cryptocurrency Stories for July 25
- It looks like we have to wait until September to see if the U.S. Securities and Exchange Commission will approve a Bitcoin exchange-traded fund (ETF). According to a CoinDesk.com report, five ETFs are seeking approval. One would match Bitcoin's price and four would be based on Bitcoin's price movements.
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- Robinhood and Coinbase have some new competition. Voyager, a startup backed by an Uber co-founder, plans to offer no-fee cryptocurrency trades for at least 15 coins. It will show prices from 10 exchanges and three market makers, which could allow crypto investors to execute buy and sell orders at better prices, according to Fortune.
- TRON, a project designed to "decentralize the web," just closed a deal to acquire file-sharing service BitTorrent. It wasn't disclosed how much TRON paid, but TechCrunch believes the deal was worth $126 million in cash. TRON's crypto coin, TRX, currently has a market cap of $2.41 billion.
- BlockFi, a crypto-lending firm, just raised $52.5 million in a fundraising round led by Galaxy Digital. BlockFi lends to companies and individuals using Bitcoin and Ethereum as collateral. With the new funds, the company plans to expand outside of the United States and to add support for more digital assets.