Today is Friday, June 24 and crypto’s wealthiest billionaire Binance CEO Changpeng Zhao said bitcoin will return to its highs in the $60,000 range in the next few months or years. He pointed out that bitcoin was $3,000 in 2018, making today’s price a windfall in comparison.
The famed Jumbo Floating Restaurant that recently sank after four decades in the Aberdeen harbor in southern Hong Kong, is now reportedly back afloat. The iconic tourist attraction closed in 2020 during the pandemic with more than $13 million in losses. It was being towed to a shipyard in Cambodia when it reportedly sank in the South China Sea.
Meme traders have a new darling in the 1932 Revlon cosmetics company, which filed for bankruptcy protection on June 15. Revlon’s stock closed at $2.25 on June 15; it closed at $8.14 on Wednesday (June 22) and was $7.20 at closing on Thursday. Here’s what else should be on your radar this morning.
BNPL Ireland. Revolut is launching a buy now pay later (BNPL) product and will initially trial the installment credit service in Ireland. The new offering is prompting users to pay off balances within two months and customers who qualify will be given a credit limit of 499 euros ($524). READ MORE
Crypto Bridge Hack. The $100 million Harmony Horizon bridge exploit exposes a central weakness in the digital asset ecosystem, with hackers having hackers robbed over $1 billion from bridges. Aside from Harmony, there were three other major bridge hacks this year, including the Wormhole bridge in February and the Ronin Bridge in March. READ MORE
Banking Literacy. When it comes to financial literacy, 41% of teenagers said their high schools don’t offer any classes, and 34% of Gen Z said they learned about personal finance from YouTube and TikTok. The latest Digital-First Banking Tracker® by PYMNTS explores the lack of financial literacy of younger generations and what these consumers look for when it comes to digital banking. READ MORE
Success Through Collapse. App-based investment educational tools are using the collapse of the crypto market to teach lessons on investing. Eddie Behringer, co-founder and CEO Copper Banking, which educates teens about banking and investing, told PYMNTS’ Karen Webster he sees the crypto winter and the volatility as educational opportunities. READ MORE
ICYMI. Facebook Pay is now Meta Pay under a rebranding that brings the payments tool in line with Meta’s overall rebranding that began last year. The change will start in the U.S. and will roll out globally. Users who have previously set up Facebook Pay won’t have to make any changes. READ MORE
