Burger King, Robinhood Team to Give Away Crypto



Burger King is looking to give away cryptocurrency as prizes to customers with a new Robinhood partnership launching Monday (Nov. 1), according to Coindesk.
For the next three weeks, Burger King Royal Perks loyalty members in the U.S. who spend over $5 on the Burger King app will get a coin from a pool of 20 bitcoin, 200 ether and 2 million dogecoin.
Most of them will likely receive dogecoin, Coindesk wrote, while one in 10,000 will get ether and one in 100,000 will get a whole bitcoin.
In recent months, Robinhood has seen a reduction in trading activity, and its revenue dropped 78% in Q3.
Meanwhile, investment firm Sfermion closed a fundraising round for its Fund II for $100 million on Monday (Nov. 1), with a focus on the nonfungible token (NFT) ecosystem along with the interest in the Metaverse, a press release said.
The Fund II will focus on investing in NFTs, tokens and equity, according to Andrew Steinwold, a managing partner with the company. By contrast, Fund I was focused on NFT investments directly.
The investors include Alan Howard, Chris Dixon, Marc Andreessen, Cameron and Tyler Winklevoss, Matthew Roszak, Digital Currency Group, CMT Digital, and Animoca Brands.
Finally, Singapore is looking at becoming a major player for cryptocurrency businesses, according to a Bloomberg report Monday (Nov. 1).
Financial centers worldwide are looking at various approaches to handle crypto. Ravi Menon, managing director of the Monetary Authority of Singapore, said the best approach in that agency’s opinion was “not to clamp down or ban these things,” but instead to put strong regulations in place for firms that meet requirements and address risks can do business.
“With crypto-based activities, it is basically an investment in a prospective future, the shape of which is not clear at this point,” Menon said.
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