Whop Weekly Digest May 30— Jun 5

Chipotle, Crypto, NFTs, and more. Let’s dive in to this week’s news…

Crypto Companies Rescind Job Offers

Amid unstable stock and crypto markets, crypto exchanges Coinbase and Gemini have announced a pause on new hires for their companies. Coinbase will be rescinding many of their pending offers and Gemini will be laying off roughly 10% of their workforce. A spokesperson for Coinbase explained the move is necessary to help “successfully navigate this macro environment and emerge even stronger.”

Prada NFT Collection

Prada launched its second NFT project, marking their continued interest in the Web3 space. Dubbed the “PradaTimeCapsule,” each NFT features a one-of-a-kind physical shirt designed in collaboration with artist CassiusHirst. Each shirt and NFT pair has a serial number to indicate its issue out of the 100 total NFTs in the collection.

Chipotle Crypto Payments

Chipotle announced they will be accepting cryptocurrencies as payment options in their restaurants. To make this work, they’re partnering with Flexa, which is already integrated in a variety of crypto exchange and wallet apps. To jumpstart adoption, Chipotle is offering 10% off all orders paid using crypto.

Ex-OpenSea Exec Insider Trading

Nathanial Chastain, former head of product at OpenSea, has been indicted by the Department of Justice for insider trading in relation to NFTs. He has been charged with one count of wire fraud and one count of money laundering. According to a press release on the DOJ’s website, Chastain is accused of buying multiple NFTs and later selling them for a large profit after having insider knowledge that the tokens would be prominently featured on the marketplace.

Cruise Driverless Taxi

Cruise received a permit from the California Public Utilities Commission which allows them to begin charging for fully driverless rides within the state. The service will operate similar to rideshare apps like Uber and Lyft, but will be operated by its fleet of 30 entirely autonomous cars. For its initial rollout, the cars are limited to operating at night between 10 PM and 6 AM in select streets around the bay area, with a speed limit of 30 miles per hour.

New York Passes Right to Repair Law

Big tech companies have been long accused of forcing consumers’ hands when it comes to hardware repairs, and even going so far as to prevent self-repairs in an effort to increase profits from their service businesses. The New York state legislature passed the Fair Repair Act which will require all manufacturers who sell electronic products in the state to make tools, instructions, and parts available to customers and independent shops. If authorized by Governor Kathy Hochul, the law will go into effect one year later. More competition and access to information should make repair prices more competitive and hopefully keep devices lasting longer.

Fun fact: Chipotle goes through 97,000+ pounds of avocados every day.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Whop

Whop

Buy and sell access to digital things.