Square made the headlines this week after splashing funds in another Bitcoin purchase as most crypto coins sunk
Ethereum (ETH) falls off a weekend peak above $2,000
Ethereum bulls failed to sustain the upward momentum for the token, which ended up struggling after coming off last week with a record high of $2,036. The token stepped into the weekend with its price soaring but gave up most of the gains before Tuesday.
ETH hovered around $1.9 k for the better part of the two-day break before seeing a steep descent. The token’s price fell heavily, bottoming out below $1,400 by midweek. Ethereum however, recovered slightly climbing above $1,600 yesterday, as bull struggled to take back control.
MoneyGram calls of partnership with Ripple
Dallas-based money transfer service MoneyGram suspended its collaboration with Fintech firm Ripple on Tuesday. The global money transfer provider cited the uncertainty around Ripple’s ongoing case with the US Securities and Exchange Commission (SEC) as the reason for the decision. The company confirmed that it wouldn’t be leveraging XRP to process international settlements until the litigation matter was cleared.
MoneyGram also revealed, through its quarterly outlook report, that it wasn’t expecting to benefit from the blockchain firm in this quarter. Based on the figures detailed in the report, MoneyGram is set to suffer some financial consequences in this first quarter as a result of the suspension.
The two firms forged their relationship three years ago when MoneyGram adopted XRP into its payment system. Two years later, the firms entered into a partnership with the main objective of working on cross-border payments using digital assets. The blockchain firm injected a $50 million investment into the collaboration at the end of 2019 and received a 10% stake in MoneyGram. However, Ripple sold
