What's jumping on the crypto train…PayPal. Yesterday, the company announced it's getting into the crypto game with its own stablecoin. Enter: PayPal USD. Unlike other cryptocurrencies, which rely on marketplace interest for their value, PayPal's stablecoin will be backed by the US dollar. PayPal USD seems to already be paying off for PayPal, which saw a 2% increase in shares despite the crypto market being all over the place. In a few weeks, people will be able to buy, sell, and convert PayPal USD right on the app. PayPal said the stablecoin will "reduce friction for in-experience payments in virtual environments." Others say even stablecoin isn't a sure bet. …Oh and speaking of tech, Zoom told employees that it would rather have them show up IRL and RTO than have 'cameras on' meetings all the time. Time to retire the Zoom shirt.
Who's also been sentenced…Tou Thao. Yesterday, a judge sentenced the former Minneapolis police officer to more than 4 years in state prison for his involvement in George Floyd's death. Earlier this year, Thao was found guilty of aiding and abetting second-degree manslaughter. Thao denied wrongdoing and he said he "did not commit these crimes" and never intended to hurt anyone. Now, he's the fourth and final officer to be sentenced since Floyd's murder.
What could be feeling blue…Yellow Corp. Over the weekend, the nearly 100-year-old trucking company filed for bankruptcy after announcing it was shutting down. The company has been struggling since the pandemic (even after getting a $700 million government loan). Yellow is blaming the Teamsters — a union representing about 22,000 of its employees — for rejecting a restructuring plan. About 30,000 people lost their jobs. Some companies (like Walmart and Home Depot) had already paused their shipments with Yellow ahead of the company's downfall. Other retailers could face higher prices as they change shipping companies.
What customers aren't too happy with…Shrinkflation. People have taken to social media to complain about shrinkflation. That's when companies downsize their products instead of upping the prices. Attenzione pickpocket.
Who's telling Trump 'take the L'...Gov. Ron DeSantis (R-FL).
Dua Lipa is eyeing a new album next year.
Who's setting new trends…Hailey Bieber.
Who's back in the building...Only Murders. |
No comments:
Post a Comment