Mobile News - Week of June 28, 2021

Issue #145 — View online — Suggest a link

The latest news and information about startups and innovations from the mobile world.

Where Is the crypto and blockchain industry headed in 2021?
Sam Bankman-Fried, founder and CEO of FTX (one of our Race’s portfolio companies) talked about what’s next for Bitcoin on Yahoo Finance. 
Here’s a brief summary of his interview + my thoughts on the current market:
  • The People’s Bank of China has directed banks and payment platforms (Alipay, WeChat Pay) to crack down on crypto and cut-off RMB on and off-ramps. This will likely impact Chinese crypto exchanges like Huobi, OKex and Binance.
  • China mining ban forces miners to relocate to the US and other countries. China accounts for more than 75% of bitcoin mining around the world as of May 2021. It is a good thing for the mining industry longer term as not one country would have a majority of the hash power.
  • More and more traditional financial institutional money is flowing into crypto. Consumers can now trade crypto on PaypalSquareRobinhoodSoFiVenmo, etc. Square is launching its own hardware wallet. And Fidelity launched Sherlock (crypto analytics platform). 
  • We are seeing a big drop off of speculative bets - dropping borrowing costs in crypto and dropping bitcoin futures.
Despite the recent crypto crash, I believe the future of DeFi is still very bright. Read this post on DeFi Infrastructure 101 — Overview & Market Landscape.
Here are the top mobile news this week >
  • Statistics - Quintopoly ad sales of $296 billion in 2020
  • Statistics - Apps revenue reaches 64.9B in H1 of 2021
  • Shopify - Drops its App Store commissions to 0% 
  • TikTok - Launch three-minute-long videos
  • AT&T - Switch to Google’s Messages app for RCS
  • Netflix - New obligation to pay Korean network usage fees
  • Google - Launches OpenSky drone airspace authorization app
  • T-Mobile - Launches Test Drive program

Quintopoly? Five tech companies now earn 46% of global ad revenues as news media left behind
Consumer spending on apps hit record $64.9B in first half of 2021, but install growth slowed to 1.7%
Shopify drops its App Store commissions to 0% on developers’ first million in revenue
TikTok is rolling out longer videos to everyone
AT&T joins T-Mobile in switching all Android phones to Google’s Messages app for RCS
Netflix’s net neutrality logic loses ground in Korea
Alphabet’s Wing launches OpenSky drone airspace authorization app in US
T-Mobile’s Test Drive program now works with newer iPhones over eSIM
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