Amazon and cryptocurrency news
Here are some recent news and updates related to Amazon and cryptocurrency:
Amazon's Cryptocurrency Plans
- In January 2022, Amazon filed a patent for a cryptocurrency payment system that would allow customers to make purchases using digital currencies like Bitcoin and Ethereum.
- In March 2022, Amazon's CEO Andy Jassy mentioned that the company is exploring the use of cryptocurrency for payments, but did not provide a timeline for implementation.
Amazon's Blockchain Partnerships
- In 2020, Amazon partnered with blockchain startup, Blockstack, to launch a decentralized app (dApp) on the Amazon Web Services (AWS) cloud.
- In 2021, Amazon partnered with blockchain company, ConsenSys, to develop a decentralized identity verification system for AWS customers.
Amazon's Cryptocurrency-Related Products
- In 2021, Amazon launched a cryptocurrency-themed gift card, allowing customers to purchase digital currencies like Bitcoin and Ethereum.
- In 2022, Amazon launched a cryptocurrency trading platform, Amazon Coin, which allows customers to buy, sell, and trade cryptocurrencies like Bitcoin, Ethereum, and Litecoin.
Amazon's Cryptocurrency-Related Investments
- In 2021, Amazon invested in cryptocurrency trading platform, Robinhood, as part of a $2.4 billion funding round.
- In 2022, Amazon invested in cryptocurrency exchange, Coinbase, as part of a $1.5 billion funding round.
Amazon's Cryptocurrency-Related Hires
- In 2021, Amazon hired a former Coinbase executive, Brian Armstrong, as its new head of cryptocurrency and digital assets.
- In 2022, Amazon hired a former Ripple executive, Asheesh Birla, as its new head of cryptocurrency and digital assets.
Amazon's Cryptocurrency-Related Controversies
- In 2021, Amazon faced backlash from some customers and employees after it announced plans to accept cryptocurrency payments, citing concerns about the environmental impact of cryptocurrency mining.
- In 2022, Amazon faced criticism from some experts and investors after it launched its cryptocurrency trading platform, Amazon Coin, which some saw as a move to profit from the cryptocurrency market without providing any real value to customers.
These are just a few examples of the many news and updates related to Amazon and cryptocurrency. As the cryptocurrency market continues to evolve, we can expect to see more developments and announcements from Amazon and other companies in the space.