Bulletins

Stripe will hire a crypto team, 3 years after dropping bitcoin support

Stripe will hire a crypto team,  3 years after dropping bitcoin support

Stripe is building a crypto team three years after ending support for bitcoin.

Image: Stripe

Stripe is building a crypto team, three years after the fintech powerhouse shut down support for bitcoin.


"I'm hiring engineers and designers to build the future of Web3 payments," Guillaume Poncin, Stripe's head of engineering for crypto, said in a tweet. Poncin had been the company's engineering head for banking and financial products before taking on his new role in September.

Poncin linked to Stripe's jobs page, which listed four crypto engineer openings.

Stripe became the first major payments company to support payments in bitcoin in 2014. The company hoped bitcoin "could become a universal, decentralized substrate for online transactions and help our customers enable buyers in places that had less credit card penetration or use cases where credit card fees were prohibitive," a former product manager, Tom Karlo, said in a blog post in 2018.

But bitcoin "evolved to become better-suited to being an asset than being a means of exchange," and became "less useful for payments," Karlo added, citing rising transaction confirmation times, failure rates and fees.

Stripe continued to pay attention to crypto even after ending support for bitcoin following that blog post, a company source told Protocol. The company is ramping up its crypto efforts at a time when the crypto market, which now includes new crypto currencies, is growing rapidly.

"In 2018, we said that Stripe would 'look for opportunities to help our customers by adding support for crypto in the future'" Edwin Wee, a member of Stripe's user relations team, said in a tweet. "That time has come."

Latest Bulletins

Adobe said it will place employees on unpaid leave if they're not vaccinated by Dec. 8, CNBC reported Friday. The company cited President Joe Biden's executive order on vaccines as rationale for the new rule, according to a notice the company sent to employees.

Keep Reading Show less

Epic Games will no longer give employees every other Friday off, Bloomberg reported Friday.

Keep Reading Show less

A new Facebook whistleblower is accusing Facebook of prioritizing money over the fight against hate speech and misinformation, The Washington Post reported Friday. The whistleblower, who is a former member of the platform's Integrity team and spoke under the condition of anonymity to The Post, made those claims to the SEC as well.

Keep Reading Show less

Walmart will now let customers buy bitcoin. And it's not a hoax this time.

Keep Reading Show less

Snap shares fell around 22% as the market opened Friday morning, the day after Snap announcing Apple's ad-tracking changes is presenting more of a challenge than it thought. "We grappled with industry changes to the way advertising is targeted, optimized, and measured on iOS that created a more significant impact on our business than we had expected," Snap's Chief Business Officer Jeremi Gorman said on the company's earnings call Thursday.

Keep Reading Show less

Lyft users reported over 4,000 instances of sexual assault between 2017 and 2019, according to the ride-hailing app's first community safety report released Thursday. The report comes two years after Uber released a similar report on its own platform.

Keep Reading Show less

The plans that Intel announced earlier this year to reinvigorate its manufacturing business and regain the throne as chipmaking king may cost more and take longer than we may have thought.

Keep Reading Show less

The U.S. government announced on Thursday that it reached an agreement with Austria, France, Italy, Spain and the United Kingdom on the digital services tax for Big Tech.

Keep Reading Show less

Plaid is moving into the payments business, with a new program that would make it easier for consumers to make digital payments from their bank accounts.

Keep Reading Show less

Worldcoin emerged from stealth on Thursday after raising $25 million from Andreessen Horowitz, Coinbase Ventures, LinkedIn co-founder Reid Hoffman, and others. The company most recently raised funds at a $1 billion valuation. It was co-founded by Sam Altman, who led Y Combinator and co-founded OpenAI alongside Elon Musk.

Keep Reading Show less

The latest blow to the mobile app economy's once-standard 30% cut is coming from an unlikely player: Google. The search giant on Thursday announced it would collect a lower fee from both subscription and music-streaming apps, reducing its standard cut from nearly a third of all digital transactions down to a flat 15% for eligible app categories.

Keep Reading Show less

The ongoing dispute between Roku and Google may result in Google pulling its YouTube and YouTube TV apps from the Roku app store on Dec. 9, both companies confirmed this week. Roku painted this move as anti-competitive in a blog post published Thursday morning, while Google accused Roku of making "unproductive and baseless claims" in a statement sent to Protocol. Sen. Amy Klobuchar chimed in as well, calling the dispute proof for the need for new competition laws.

Keep Reading Show less

Apple isn't requiring employees to get vaccinated, but it is making the requirements for unvaccinated workers more stringent: it will soon require unvaccinated employees and those who won't report their vaccination status to get COVID-19 tests every day in order to enter the office. The company's new rules will go into effect Nov. 1.

Keep Reading Show less

Former President Donald Trump announced on Wednesday the launch of TRUTH Social, a social media platform whose takes direct aim at Trump's grievances with Big Tech. The announcement came as part of a SPAC deal between Digital World Acquisition Corp. and Trump Media & Technology Group.

Keep Reading Show less

Amazon warehouse workers in New York City plan to file for a union election, Vice reported Thursday. The employees said they will petition for an election before the National Labor Relations Board next week.

Keep Reading Show less

The Consumer Financial Protection Bureau announced Thursday it had issued orders for information to Amazon, Apple, Facebook, Google, PayPal and Square on their use of consumer data.

Keep Reading Show less

Democratic Sen. Richard Blumenthal is urging Mark Zuckerberg or Adam Mosseri to testify on Instagram's impact on kids following the revelations from Facebook whistleblower Frances Haugen.

Keep Reading Show less

The U.S. Department of Commerce announced a new rule on Wednesday, placing controls on exports of items that could be used for surveillance, espionage or other actions. The rule will go into effect in 90 days and is intended to stymie the sale of hacking tools to China, Russia and other countries.

Keep Reading Show less

A network of Russian-speaking hackers are phishing YouTube influencers with fake collaboration offers in order to hijack their accounts, Google said in a blog post Wednesday. Since May of this year, Google's Threat Analysis Group has blocked 1.6 million phishing messages and restored almost 4,000 accounts that were targeted using these techniques.

Keep Reading Show less

Sony on Wednesday announced another major PlayStation exclusive game, 2018's God of War reboot, would be making its way to the PC platform early next year. The company intends to distribute the game through both the Epic Game Store and Valve's Steam on Jan. 22.

Keep Reading Show less

PayPal is interested in buying Pinterest, according to Bloomberg News. The payments company recently approached Pinterest about a possible acquisition with a price tag of around $45 billion, Bloomberg reported.

Keep Reading Show less

WeWork's merger with a Silicon Valley SPAC went through on Tuesday, closing the loop on a chaotic two-year journey to become a publicly-traded company.

Keep Reading Show less

Activision Blizzard has fired 20 individuals and reprimanded or punished 20 more in the course of its investigation into allegations of discrimination, harassment and sexism within the company, according to a Financial Times report.

Keep Reading Show less

The attorney general of Washington, D.C. told The New York Times on Wednesday that he plans to name Mark Zuckerberg in a privacy lawsuit that stems from the Cambridge Analytica scandal. The suit, first filed in December 2018, charges Facebook with misleading DC residents about their privacy, because Cambridge Analytica was able to illicitly obtain data on tens of millions of users.

Keep Reading Show less

Facebook is planning a rebrand, including a name change, sometime next week, The Verge reported. According to a source, the company plans to use the rebrand to signal its ambitions to become more than just a social network, positioning Facebook as just one of many products under a larger umbrella.

Keep Reading Show less