American Express To Offer Their First Crypto Rewards Credit Card

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American Express is rolling out it’s first-ever crypto rewards credit card as part of a partnership with Abra, according to a joint announcement at this week’s crypto conference Consensus in Austin.

The announcement is a move in the footsteps of other major credit card providers, most notably Visa and Mastercard, but is still a major call-out in crypto integration into the current credit card landscape. There are over 60M AmEx holders according to figures from earlier this year – and now the network will bring access to direct cryptocurrency rewards for spending for the first time ever with a partner card with Abra.

American Express And Abra Team Up The ‘Abra Crypto Card’ was unveiled at the annual Consensus event in Austin, Texas today, and will offer crypto rewards for any purchase category and amount, according to the formal press release. Abra offers a platform token, ‘Crypto Perx’ (CPRX) that is expected to be alongside a variety (but thus far undisclosed) of top tokens as options for earning rewards. It was a big day for the team at Abra, who paired the American Express announcement with news that their app would support custody and gallery views of NFTs.

American Express’ president of Global Network Services Mohammed Badi stated that Abra brings “deep expertise in both crypto and traditional financial services” that makes them a fitting partner for the endeavor.

'Crypto Perx,' (CPRX) is the native platform ERC-20 token for Abra; the token saw strong positive price reaction to the news around Abra's new credit card on the AmEx network. | Source: CPRX-USD on TradingView.com Related Reading | Solana To Support DeFi, NFT, And GameFi In South Korea With A $100M Fund

Join The Club Visa and Mastercard are two of the most commonly-recognized names in the credit card business, but don’t sleep on American Express, who is only behind Citibank, Chase, and the two aforementioned top dogs when it comes to card issuance. AmEx has carved out a long-time niche of serving top dollar customers and offering commensurate rewards.

The Abra card is expected to bring those rewards along with it too, with rewards from the slate of the AmEx network, including “Amex Offers (for shopping, travel, dining, services, entertainment, etc.), presale ticket access, Global Dining benefits, and purchase protections,” according to the press release.

Abra joins a growing list of crypto-native card issuers with crypto rewards, including the likes of BlockFi, Gemini, Nexo and others. Even companies that aren’t crypto-first, such as Venmo and SoFi, are offering crypto reward cards.

Related Reading | Head To Head: Bitcoin, Ethereum Profitability For Investors

Featured image from Pixabay, Charts from TradingView.com The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.

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EU is making bitcoin useless and we are doing nothing to avoid this!!

TL;DR. EU is destroying btc and we are just watching instead of acting.

Disclaimer: I love bitcoin and I’m here since 2017. So don’t think I’m a hater or I want to spread FUD.

Bitcoin can’t be banned, but can be made useless?

No one can ban bitcoin and also telling this is a funny sentence. But what EU can do is making bitcoin useless for us and profitable for them!

How EU is manking bitcoin useless

EU is trying to make bitcoin useless with all the upcoming laws against un- hosted wallets. Sending bitcoin to an unhosted wallet from exchanges will require to verify your unhosted wallet, and if you try to send them to other unhosted wallet you could risk to keep those bitcoin locked an no more accepted by exchanges or to explain what you did with them. I think they are playing on this: they are trying to make bitcoin something you buy on CEX and do just nothing with them. So useless. Bitcoin is meant to be transferred and used to exchange value not to buy a SQL tuple on a CEX database. This way they will get rid of all the troubles about uncontrollable money, and also they will earn on it with taxes, after they made it useless.

What we are doing to avoid this

Nothing! Just nothing! I don’t want to be harsh but many of us just cover their eyes telling “bitcoin can’t be banned”, “bitcoin will be the future” etc etc. ok but do we want to realize we are in trouble now and we, as a community of bitcoiners, should act to change events and not just watch all what is happening in EU?

What can we do?

I don’t know, but we should do something before it’s too late! We can’t keep watching EU destroying bitcoin with stupid restrictions like that latest news in Lithuania. So please, we all get aware this is a thing and we should find some functional ways to protest!

Sorry for my bad English I’m from Italy.

Edit: It would be cool if we can use the comments section to find some ways to act/protest. We are 4millions!

Ethereum To Delayed Merge?, ETH Price Plunges Below $1,700

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Ethereum has broken below $1,700 since July 2021. At that time, ETH’s price was reacting to the downside due to an increase in selling pressure across the crypto market.

Related Reading | TA: Ethereum Holds Key Support, Why ETH Must Clear This Hurdle

This time, Ethereum seems to be reacting to poor macro-economic conditions, and a potential delay in its most important milestone in recent history: The Merge. The event that will complete ETH’s transition to a Proof-of-Stake (PoS) blockchain.

At the time of writing, Ethereum (ETH) trades at $1,680 with a 6% and 8% loss in the last 24-hours and 7-days, respectively. ETH is one of the worst performers in the top 10 by market cap followed by Solana (SOL), Dogecoin (DOGE), and XRP.

ETH with minor losses on the 4-hour chart. Source: ETHUSD Tradingview The Ethereum network recently saw the successful deployment of “The Merge” on its oldest testnet, Ropsten. This was celebrated by the community with many claiming a mainnet launch could be possible by August or September this year.

“The Merge” implementation on Ropsten saw some difficulties, but ETH core developer Tim Beiko claimed they were addressed and “all fixed”.

The Difficulty Bomb is part of the mechanism that will enable Ethereum to migrate to a PoS consensus. This mechanism will progressively increase mining difficulty and prevent these actors to support a second ETH based on Proof-of-Work (PoW).

As Beiko explained, the Difficulty Bomb is already having an impact on the network:

The bomb is being felt on the network, and, in true bomb fashion, it appeared quicker than predicted Block times are ~14s and the Arrow Glacier EIP (authored by yours truly) predicted “a ~0.1 second delay to block time by June 2022 and a ~0.5 second delay by July 2022.

ETH core developers agreed on delaying this mechanism for at least 2 months. This will provide them with more time to work on the migration to a PoS consensus.

What A Difficulty Bomb Delayed Means For Ethereum However, ETH core developers seem to disagree on what delaying the Difficulty Bomb implies for Ethereum. Ben Edgington, Lead Product Manager for Teku, an Eth2 client developed by ConsenSys, announced the following:

(…) we will push back the Ethereum difficulty bomb. We say it won’t delay the Merge. I sincerely hope not. Every extra week on PoW generates close to 1 Million tonnes of CO2 emissions.

Edgington believes developers should agree on a Merge mainnet target. In that way, clients and the ETH community can “prepare”.

In that sense, Beiko replied that the event is still expected to take place at some point from August to November this year. He believes only a “catastrophic event” could delay “The Merge” this year.

Beiko concluded the following on setting a specific date for “The Merge”:

I guess my view is that having an explicit target, at this point, basically wouldn’t change the speed of output from client teams, at least on the EL (Execution Layer). We have many implicit ones (devcon, bomb) as well as intrinsic motivation.

Related Reading | Bitcoin Spot To Derivatives Flow Forms Historical Bullish Pattern

Despite the progress on this important ETH event, the market is already soft, and any potential signs of weakness could contribute to an increase in selling pressure.

Hiro's Weekly Community Updates: Diving into Hyperchain’s Twitter Spaces, Bitcoin DeFi 101, Debugging Smart Contracts, Consensus ATX Takeover and more!

Happy Friday, Stacks Devs! Don't miss out: Here's a roundup of the latest developer resources, tutorials, and events to keep on your radar. Here are some of our latest posts:

• Diving in Hyperchains Twitter Spaces Recap - Thanks for tuning into our Spaces on all things Hyperchains, scaling solutions for Stacks, and what's to come. You can read this blog for more insight.
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