Visa: Paying For Gas Fees with Card 💳

GM. This is Degen Scoop. It’s Monday, here’s the scoop from the weekend:

• Visa: Paying For Gas Fees with Card 💳

• SEC Delays ARK Bitcoin ETF ⏰

• $8M of Crypto Assets Burned Intentionally 🔥

• Whale Moves 🐋

• Threads You CAN’T Miss 🧵

Visa Wants to Enable Paying For Blockchain Gas Fees with A Credit Card

It’s no secret that most of TradFi is trying to figure out how they can increase revenues using crypto. One of the major blockades is UX and difficulty if you’re not already doing transactions on-chain. Visa is trying to change that with their experiment in how to pay for gas fees with a credit card.

The name of the game to bring about millions on-chain is reducing friction and this is Visa doing their part. While you can do this on Base now via CoinBase, this is one single chain. If Visa were to be successful in their experiment, it’ll reduce friction to non crypto natives. If they can discover a more accessible way for people to conduct digital transactions, they’ll make a lot of money for their shareholders.

The SEC Delays Approval on The ARK Bitcoin ETF

Ever since BlackRock filed, much of the crypto world’s attention has been on the status of a spot Bitcoin ETF. On Friday, the regulator communicated that it would need more time to come to a decision on this ETF which first filed in June 2021. The SEC is taking their sweet time to come to a decision on this for belief that Bitcoin price can be easily manipulated.

The BlackRock filing shows Larry Fink recognizes crypto for the moneymaker that it is. Once the ETFs are filed, these organizations will not only need spot Bitcoin in their coffers, but they’ll be advertising them to get their share of fees. Extremely bullish narrative. Countless other firms have since filed in their footsteps and are looking to get their cut if a spot ETF were to finally be accepted.

The Curious Case of $8M of Crypto Assets That Have Been Burned Intentionally

We first reported on this when the number was at $4.5M, but the wallet has continued to burn assets seemingly without reason. It continues to shock the crypto world because there is no apparent reason as to why this wallet is destroying generational wealth. Some men just want to see the world burn it would seem.

Alongside the tokens he has burned, this wallet has also burned notable NFTs including multiple Bored Ape Yacht Club, Mutant Ape Yacht Club, and a CryptoPunk amongst the burned tokens. No one knows why this wallet is doing this or the owner behind it, but it’ll remain one of the great mysteries in crypto until a why is discovered, if ever.

Notable NFT Sales in the Last 24 Hours / Over the Weekend:

Notable Threads You May Have Missed:

Meme of the Day

If you think your memes are better, submit them to the newsletter and get featured for your work!

Conclusion

Touch grass, hit the gym, and don’t forget about what’s really important outside of magical internet coins.

Thank you for reading, if you enjoyed this please subscribe if you haven’t already! If you’ve already subscribed, please consider sharing this!

DISCLAIMER: This newsletter does not constitute financial advice. This is strictly educational and should not be used to make any financial decisions. Be responsible and do proper due diligence before aping.