Bitcoin Daily: Binance.US Names Former Head Of OCC As New CEO; Time Magazine Now Takes Cryptocurrency For Digital Subscription Payments

Brian Brooks, who was acting head of the Office of the Comptroller of the Currency (OCC) under the President Donald Trump administration, is now slated to be CEO of Binance.US, one of the world’s biggest crypto exchanges, The Wall Street Journal (WSJ) reported.

Brooks will be starting the job May 1. His time at the OCC saw him dubbed the “CryptoComptroller” on social media after his friendly attitude toward cryptocurrency was made known, according to WSJ.

In other news, Time magazine is among the long-standing institutions now accepting cryptocurrency as a method of payment, the company announced in a press release.

Subscribers who pay in that manner will receive unlimited access to content for 18 months, along with subscriber offerings, the release stated.

“We are thrilled to offer cryptocurrency as a payment option for our digital subscribers for the first time,” said Time Chief Technology Officer Bharat Krish in the release. “Time’s rapid digital transformation on behalf of our community is the result of our commitment to embracing new technologies and working closely with innovative companies like to bring our ideas to fruition.”

Meanwhile, USMJ now will be able to accept cryptocurrencies as a form of payment for its cannabis industry goods, according to a press release.

The currencies currently accepted on include Bitcoin, Ethereum, Litecoin, Bitcoin Cash, DAI and USDC, the release stated. Customers can choose during checkout to pay with a credit card or via crypto through using Coinbase Commerce as their wallet method.

Lastly, Galaxy Digital is in talks to possibly purchase U.S. crypto custody specialist BitGo, CoinDesk reported, citing unnamed sources.

BitGo, based in Silicon Valley, was also in talks to be bought out by PayPal last year for as much as $750 million, although no deal was reached, according to CoinDesk. Instead, PayPal ended up buying another crypto custody firm, Curv.

Galaxy doesn’t handle custody, which is a reason it is interested in BitGo, a regulated crypto custody specialist, CoinDesk reported.

While details aren’t final, a traditional financial firm might end up being involved as well, according to CoinDesk.