Electronic Payments International lists five of the top tweets on payments tech in Q2 2022 based on data from GlobalData’s Banking and Payments Influencer Platform.
The top tweets are based on total engagements (likes and retweets) received on tweets from more than 146 payments tech experts tracked by GlobalData’s Banking and Payments Influencer platform during the second quarter (Q2) of 2022.
The most popular tweets on payments tech in Q2 2022: Top five
1. Barry Silbert’s tweet on Grayscale Investments filing registration statements with the SEC
Barry Silbert, CEO of venture capital firm Digital Currency Group, shared an article on digital currency asset manager Grayscale Investments filing Registration Statements on Form 10 with the Securities and Exchange Commission (SEC) on behalf of Grayscale Horizen Trust, Grayscale Stellar Lumens Trust, and Grayscale Zcash Trust. The new Form 10 filings were voluntary and subject to review by the SEC. If any of the Registration Statements that were originally filed became effective today, it would have called the applicable product as an SEC reporting company and register its shares pursuant to Section 12(g) of the Exchange Act, the article detailed. The company already has six reporting products, namely Grayscale Bitcoin Trust, Grayscale Bitcoin Cash Trust, Grayscale Digital Large Cap Fund, Grayscale Ethereum Trust, Grayscale Ethereum Classic Trust, and Grayscale Litecoin Trust.
The article further noted that if any of the Registration Statements originally filed became effective today, accredited investors who purchased shares in the applicable product’s private placement would have an earlier liquidity opportunity, as the holding period for the applicable private placement shares would be reduced from a year to six months under the Securities Act’s 144th rule.
Username: Barry Silbert
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Twitter handle: @BarrySilbert
2. Laura Shin’s tweet on the movement of the $3.5bn Terra reserve
Laura Shin, a crypto journalist, shared an article on the blockchain company Terra claiming that the movement of the $3.5bn in Bitcoin reserves was conducted to sell the majority of it in an unsuccessful effort to support the UST Stablecoin. Holders of Terra’s native token LUNA and the UST Stablecoin together lost about $42bn in the past week, the article detailed. However, $85m in crypto assets remained in the Terra reserve to compensate them. The algorithmic stablecoin TerraUSD (UST), was developed by Terraform Labs. Intended to maintain a peg to the US dollar, the UST value plunged from $1 to a low of just $0.04, causing billions of dollars in losses for UST investors, the article detailed.
The Luna Foundation Guard (LFG), a non-profit organisation established to foster the expansion of the Terra ecosystem, declared that it will buy up to $10bn in Bitcoin and other crypto assets to act as a reserve that would back the UST stablecoin. As a result, between January and May 2022, 80,394 BTC worth $3.5bn at the time were bought by LFG, the article noted. When the value of UST began to drop, LFG announced that it would purchase UST by disposing its Bitcoin reserves. When tracked, the Terra-owned Bitcoin reserves were found to have been moved to a single account in Gemini, the US-based crypto exchange and to the crypto exchange Binance, the article highlighted.
Username: Laura Shin
Twitter handle: @laurashin
3. Francis Pouliot’s tweet on new upgrades to Bylls Bull Bitcoin payment services
Francis Pouliot, CEO of the Bitcoin company Bull Bitcoin, shared an article on the release of the new features to the Bull Bitcoin’s payment services (Bylls), including sending interac e-transfers to anyone in Canada using only their phone number or email address. Bull Bitcoin’s bill payment services were developed around eight years ago to help Canadians to move out of the fiat banking system with the use Bitcoin, the article detailed. The services are now currently availed by a large number of Canadians to pay their bills and make bank transfers to anyone in the country by paying invoices directly from their own Bitcoin wallet.
The other features include options to sell Bitcoin to your account balance or to someone else, and a new payment recipients management dashboard, which allows the creation of five different types of recipients, namely bank accounts, credit cards, interac e-transfers, standard billers, and Bull Bitcoin account balances.
Twitter handle: @francispouliot_
4. Jameson Lopp’s tweet on the release of CleanCoin
Jameson Lopp, chief technology officer at a cryptocurrency start-up Casa, shared an article on the release of the CleanCoin, purported to be an environmentally friendly form of the Bitcoin. The article detailed that CleanCoin is a digital currency that facilitates instant payments to anyone, anywhere in the world. It uses peer-to-peer technology to operate with no central authority, implying that the network manages the transactions and issues the money collectively.
Cleancoin is therefore an open source software that enables the use of this currency. CleanCoin is developed on top of Bitcoin core. CleanCoin uses Proof of Stake consensus algorithm as against Proof of Work in the case of Bitcoin, which allows it to scale better, save power, and also lower the entry barrier for contributing to the building of new blocks, the article noted.
Username: Jameson Lopp
Twitter handle: @lopp
5. Erik Voorhees’s tweet on Bitcoin becoming a legal tender in the Central African Republic
Erik Voorhees, CEO of cryptocurrency trading platform ShapeShift, shared an article on the Central African Republic passing a bill to make Bitcoin a legal tender. The article detailed that it is the second country in the world after El Salvador, to make Bitcoin a legal payment option. According to the new bill, the use of Bitcoin and other cryptocurrencies in transactions along with the CFA franc will be considered as legal forms of payment. The move makes the Central African Republic the first country in the continent to use Bitcoin as legal tender, according to Touadera’s chief of staff, Obed Namsio. Additionally, the exchanges will not be subject to taxes, the article noted.
The move marked the country’s efforts to improve its financial infrastructure. According to reports, Nigeria, Kenya, and South Africa have growing cryptocurrency markets among African countries, with the Central African Republic now joining the race.
Username: Erik Voorhees
Twitter handle: @ErikVoorhees