JPMorgan's Bitcoin Journey
What's going on guys. It is monday april twenty six and today we're talking about j. p. morgan's bitcoin journey from worse than tulips to not my cup of tea to a new client product first. Let's do the brief. I on the brief today. Sports in crypto are definitely coming together in this cycle a couple of years ago. Nfl offensive tackle russell. Kun made a now famous declaration. Pay me in bitcoin. He currently takes half of his thirteen million dollar salary and btc and half in fiat. Kansas city chiefs. Tight end sean. Culkin is taking it to the next level. And we'll be converting the entirety of his twenty twenty one base salary. Nine hundred and twenty thousand dollars into btc. Culkin is going to convert his fiat to bitcoin. Salary conversion service. This is the same service that russell uses and it means that the paychecks are automatically converted which detaches them from market movements and allows coke in his own words to stay focused on the game for their part. The kansas city chiefs are aware but their contract is still denominated in. Us dollars about the deal. Culkin said quote for me it makes sense to get paid in the hardest form of currency. And it's something that's resistant. Inflationary pressures that. I think is very relevant in this current economic environment. That wasn't the only. Nfl crypto news today as the presumptive number one draft pick from later this week. Trevor lawrence announced a sponsorship deal with block folio the bonus of which will be paid entirely incredible out clearly. There is a mainstreaming momentum. Going on all right next up on the brief w is going on in turkey. I've been keeping you posted on everything happening in turkey but it's just gotten crazier on april sixteenth. The central bank announced that crypto would be banned as a means of payment. Effective april thirtieth. Two days later turkish exchange codex went off line on april eighteenth. The ceo of that company has gone missing and there are claims of massive fraud. Sixty two people with ties to the platform have been detained now for people have been detained as part of an investigation into verbal coin. Which is another turkish exchange. But none of this has stopped. Turkish crypto usage. In fact it's gone up sharply.