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Crypto SWOT: Amazon may soon let customers pay for their orders using cryptocurrency

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  • Of the cryptocurrencies tracked by CoinMarketCap, the best performer for the week was Shield Network, rising over 5,000%.
  • The payments team at Amazon is exploring letting customers use cryptocurrencies to pay for their orders, writes Bloomberg, a development that’s roiling digital currency markets. Last week an Amazon job posting was published seeking a “Digital Currency and Blockchain Product Lead.”
  • In the first half of the year, Ether trading volume surged 1,400% as institutions took exposure, reports CoinDesk. In fact, the Ether market grew three times faster than Bitcoin in the first six months of the year. As seen in the chart below, Ether also outperformed Bitcoin in terms of volume growth and price performance, similarly outshining the S&P 500 and gold in price performance.

Chart  Description automatically generatedWeaknesses

  • Of the cryptocurrencies tracked by CoinMarketCap, the worst performing for the week was Capital X Cell, down 98.93%.
  • According to a former Bitcoin ETF expectant, the United States SEC may not approve a Bitcoin exchange-traded fund until 2023, writes CoinTelegraph. Speaking to Business Insider, co-founder of investment firm Wilshire Phoenix, William Cai, remarked that 2022 and 2023 are the earliest possible times for the SEC to greenlight a BTC ETF. Several Bitcoin ETF hopefuls currently have filings with the SEC, including fund management outfit Global X, which submitted earlier in the month, the article continues.
  • According to a Twitter post on Tuesday, a “significant” bug, with the potential to expose users’ true transactions, has been spotted in the privacy-centric cryptocurrency Monero (XMR), writes CoinDesk. Identified in Monero’s decoy selection algorithm, the bug occurs when a user spends their funds received in a transaction before roughly 20 minutes has passed. As the article goes on to explain, users may avoid the bug altogether by waiting one hour or more before spending their newly-received Monero until a fix is implemented in a future wallet software update.


  • As reported by CoinTelegraph, there has been installation of over 10,000 new crypto ATMs worldwide in 2021, a spike of 71.73%. The United States is leading this space, having installed nearly 48 ATMs per day.
  • Bitcoin mining facilities are setting up shop in Texas, writes CoinTelegraph, and many are saying the Lone Star State could be the idea location. Texas’ deregulated power grid, increasing renewable energy and political leaders that are publicly pro-crypto have caused a number of mining companies to head to the second-largest state in the U.S.
  • Goldman Sachs has filed an application with the U.S. SEC for an ETF that would offer exposure to public companies in decentralized finance (DeFi) and blockchain around the globe, reports CoinDesk. According to the filing, the fund would invest at least 80% of its assets into companies that advance blockchain technology and the digitization of finance.


  • According to the Senate’s bipartisan infrastructure deal, stricter rules could be imposed on cryptocurrency investors to collect more taxes to fund a portion of the $550 billion investment into transportation and power systems, reports Bloomberg. A summary of the plan shows that the provisions would raise an additional $28 billion from cryptocurrency transactions.
  • On Monday, Bloomberg reported that Tether is being investigated by the U.S. Department of Justice for possible offenses conducted years ago. The price of Bitcoin fell on the day in reaction to the news, to which a request for comment was not immediately returned by Tether. As CoinDesk reports, Tether (which administers USDT – the crypto market’s largest stablecoin), has long been dogged by accusations of murky banking relationships.
  • Companies such as Tesla and MicroStrategy that have emerged as some of Bitcoin’s biggest backers will have to reckon with their digital holdings in earnings reports next week, writes Bloomberg, after the price of the token tumbled 41% in the second quarter. “There will be repercussions from the volatility of the price in the quarter,” said Jack Ciesielski with R.G. Associates.
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