⏱In da Club(house)
Chinese digital currency, and a billion dollar card company
Good morning everyone, and congrats on surviving to the middle of the week! You’re crushing it!
0:05- Opening the floodgates
Yesterday President Biden indicated that all US adults (16+) should become eligible for the Covid vaccine by April 19th, further speeding up the already aggressive goal his administration had laid out earlier in the year. Biden described the situation by saying, “There’s a lot of good news. But there’s also some bad news. The virus is spreading because we have too many people who’ve seen the end in sight, thinking we're at the finish line already. Let me be deadly earnest with you... We’re still in a life and death race against the virus.”
0:30- Can you Topps that?
Yesterday the company famous for baseball trading cards, Topps, announced that they would be going public via a SPAC in a merger with $MUDS that would value the company at more than $1.16Bn. This will be the first time that the company has been publicly traded since 2007 when it was taken private by an investment firm led by former Disney CEO, Michael Eisner. This deal comes soon after Topps began selling digital versions of their playing cards as NFTs.
0:52- China’s new currency
China has recently introduced a new digital currency controlled by the government and its central bank. This move has been heralded by the Chinese government as a way for China to “...protect our currency sovereignty and legal currency status, we have to plan ahead.” While on the surface this may appear to be a win for crypto fans, the new currency will be lacking one key feature—anonymity. As of now it appears that the government will have visibility into every transaction made with the virtual money.
1:15- In da Club(house)
Sources close to Clubhouse announced yesterday that the company had reportedly raised another round of funding at a valuation of more than $4Bn—a 4x increase of the company’s value in January of this year. This new fundraising round comes less than a day after the company announced that the ability to pay creators would be rolling out to users around the world in the coming days, marking the first time cash has been flowing through the business.
Have a great rest of your day, and we’ll see you tomorrow bright and early!
-The 90 Second News Team
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