Nubank Strikes Lightning: Boosts Crypto with Speed Upgrade

Nubank Strikes Lightning: Boosts Crypto with Speed Upgrade

Brazilian fintech giant Nubank is supercharging its crypto offerings by partnering with Lightspark to integrate the Bitcoin Lightning Network. This collaboration aims to bring faster and more scalable transactions to over 100 million Nubank customers.

"This partnership strengthens our commitment to providing the best financial solutions," said Thomaz Fortes, Nubank Crypto's Executive Director. "Lightspark's technology is key to unlocking faster and more efficient crypto experiences for our users."

Nubank has been steadily building its crypto presence. Since late 2022, they've offered crypto purchases, with recent additions like withdrawals (April 2024) and their Nucoin loyalty token (March 2023). This Lightning Network integration marks another step towards a comprehensive crypto experience for Nubank's massive user base.

Interestingly, this news comes after Nubank received a $500 million investment from Berkshire Hathaway, led by famed investor (and crypto skeptic) Warren Buffett. Only time will tell how this crypto push aligns with Nubank's future strategy.

Solana Seed Money: Colosseum Raises $60 Million to Fund Blockchain Startups

Calling all crypto innovators! Solana-focused accelerator Colosseum just secured a whopping $60 million to fuel early-stage blockchain projects. This fund, already oversubscribed, targets pre-seed investments in global startups building groundbreaking on-chain products.

Colosseum isn't just throwing money around; they're prioritizing winners. Their inaugural hackathon for the Solana Foundation drew over 8,000 participants from around the world, generating a flood of over 1,000 product ideas. The 10 top teams from that competition are already part of Colosseum's online accelerator program, getting a head start with mentorship and resources.

This $60 million injection will empower Colosseum to support even more ambitious developers building the future of Solana. With a focus on hackathon winners, Colosseum is fostering a dynamic environment where innovation thrives.

Rep. Matt Gaetz Proposes Bitcoin Tax Payment Bill

Rep. Matt Gaetz (R-FL, 1st District) has introduced a bill that would allow Americans to pay their federal income taxes using Bitcoin. The proposed legislation aims to amend the Internal Revenue Code of 1986 to permit tax payments with the leading cryptocurrency.

The bill specifically addresses Bitcoin and does not mention whether other cryptocurrencies or stablecoins would be included. It calls for the Treasury Secretary to develop a method for accepting Bitcoin payments for individual federal income taxes, outlining regulations for when these payments would be considered received and requiring the immediate conversion of Bitcoin to dollars.

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