~Estimated Read Time: 3 Minutes and 36 Seconds
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Hey Tea Sippers š,
Glad to see youāre up and at it early on this beautiful Friday morning. Letās get you some quick reads to digest before your day starts.
I read that Amazon is adding a new product to its already robust product suite. What is it? Grubhub+, which can be used by anyone with a Prime membership. Are Uber Eats and Doordash in trouble?
In other news, the digital markets act is being pushed by the EU posing a big threat to big tech companies such as Amazon and Apple. It poses threats to Appleās (app store) and Amazonās use of data, maybe bringing an end to their monopolies on the economy.
Well, we are going to send you off. We hope that you enjoy the stories we have for you. Grab your tea and start sipping!
Cheers! āļø
1. Solana debuts Saga, an android phone for web3.
Youāve probably been hearing about different blockchains, which are essentially technologies helping to run different cryptocurrencies and projects. Well, Solana is a blockchain, but itās built on top of another blockchain: Ethereum.
What are they known for?
Fast transactions (50,000 Transactions per second)
Scalability
Security
Interoperability- Allowing for other projects to be built on top of them
Recently we just entered a crypto winter, but Solana had been brewing something in their pot.
Itās ready!
The Solana phone, Saga is here to make it easier to transact in web3 and manage your digital assets.
Imagine you just got a token from that NFT you bought. Now, you can use that token by transacting with your Solana phone. Your token has real monetary value. Think of it as a portable crypto wallet to hold NFTs, tokens, and other digital assets.
What about my messages?
Yes, itās an android, but thereās some insight that the messages may be purple and not green, hmmm.
The Big Gulp āļø:Ā
Solana is the next big innovator sinceā¦ Apple? Itās been a while since anyone has tried to compete with the big dogs in the phone space. With crypto being such a huge topic of conversation, and as digital adoption continues to progress, this could be a very interesting value proposition. I will leave you with this quote from the CEO, Anatoly.
āAlmost 7 billion people use smartphones around the world and more than 100 million people hold digital assets - and both of those numbers will continue to grow.ā
2. FTX has the option to acquire BlockFi for up to $240M.
FTX is the company Iāve been talking about probably every week because the prince of the crypto world runs it, Sam Bankman-Fried. What happened this time? They have reached a deal with the crypto lender, BlockFi.
What happened?
BlockFi hit some hard times due to the crashing of the hedge fund 3AC, and the amount they had staked into BlockFi.
Here comes the knight in shining armor offering them a deal to relieve them of their sorrows:
SBF has given them a $400M Credit Facility
BlockFi has agreed to an acquisition at a variable rate depending on their performance in the future.
The Big Gulp āļø:Ā
The company once valued at $4 Billion has been brought back to its sensesā¦ During times of trials and tribulations is when the strong come out. FTX is BlockFiās saving grace because SBF believes in the companyās vision and model. This crypto winter has brought uncertainty but has also made many individuals aware of which companies should stick around for the long run. Although BlockFi didnāt get the outcome they wanted, many are still optimistic about where they will end up in the future.
Extra Tea āļø
Twitter- Elon Musk may pull out of his Twitter deal.
Bitcoin- Robinhood has enabled the ability for users to send and receive bitcoin.
New New- Circle announced the addition of the fiat-backed stablecoin, Euro Coin.
Going Up- The Fed announced that it will be raising interest rates again.
Tea Pods āļø
Wanna hear more about the Solana phone coming out? Listen to the CEO, Anatoly talk about the origin of the idea and how he foresees it being implemented into our modern-day society. Listen to this podcast episode on The Scoop.
Listen Here.
Sencha Tea Fact of the Week āļø
āTechPay coin is the fastest blockchain completing 300,000 Transactions per second.ā
Since you made it this far!
If you or a friend know anyone interested in the space, feel free to recommend them.
And, if you have any questions, feel free to contact me: Kristian Lamarre.
Cheers!āļø