Note that cryptocurrencies are becoming more and more common as a means of payment. As of today, for example, Bitcoin has been the official means of payment in El Salvador for more than a year, making it available to pay at various outlets for products and services.

BTC could also be used to pay for Tesla cars last spring. A few weeks later, however, Ilon Musk suddenly began criticising the cryptocurrency’s energy efficiency and removed it from supported payment methods.

Selling Tesla for bitcoins

Google will now allow crypto to be used – albeit through an intermediary – by the company.

Which companies accept cryptocurrencies

All details of partnership between Coinbase and Google are not disclosed, but it is already known that the exchange will receive part of commission from each payment. In addition, Coinbase Commerce will be migrated from Amazon Web Services servers to Google Cloud. As a reminder, Coinbase Commerce currently works with ten cryptocurrencies, including Bitcoin, Etherium and DOGE. The full list of coins is available in the screenshot below.

List of cryptocurrencies supported by Coinbase Commerce

According to Decrypt’s sources, there is a possibility that Google may use more than just Coinbase services to process transactions. In particular, there is competition between the cryptocurrency division of PayPal and Coinbase, so Google may well partner with another major brand in the crypto industry in the future.

The importance of this news lies in the bonuses to the reputation of cryptocurrencies as a phenomenon and a means of payment. Still, once this option is in place, users will know that a giant like Google supports interaction with digital assets, essentially recognising their potential. And since the company's experienced employees approve of coins, it means that ordinary people will also be safe to work with them. Accordingly, Google's initiative will clearly introduce the world of crypto to new users who have yet to do so.

As a reminder, the tech giant is generally not averse to competing with its competitors in the development of new crypto-related projects. For example, Facebook previously renamed itself Meta and is now actively promoting the topic of meta universes. Google, on the other hand, has decided to take a different path – the company pays more attention to the development and support of new ideas in the Web3 sphere in general, but does not invest in crypto itself or launch blockchain-based platforms.

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While Google is actively trying to work in the aforementioned direction, CNN is shutting down its unique NFT token initiative. We’re talking about a project called Vault, which was launched last year. Through it CNN was selling its own NFT tokens dedicated to memorable events in the news. On the occasion of the project’s closure, its team published an appeal to subscribers on Twitter. Here’s a quote from the publication.

Vault was originally launched as a six-week experiment, but the support and involvement of our community has allowed us to expand this project into something bigger.

Vault team announcement

No further official information has been received from CNN regarding the closure of the project, so the real reasons for this are not known. According to the announcement of the Vault team, the NFT token collection will continue to “live” on trading platforms, and the developers themselves have accumulated a lot of experience in Web3, which may well be implemented in future projects. Admittedly, no other announcements have been published on the subject.

For the community the news about Vault came as a real shock. Some members of the project’s Discord server even announced the so-called ragpoll – that’s what the cryptostartup’s team is calling the departure of its investors’ funds. Most interestingly, just last month, the Vault team was actively promoting new NFT token drops and discussing upgrades with the community.

Responding to questions from frustrated investors, a CNN staffer nicknamed Jason on Discord confirmed that some form of “distribution” would take place to compensate those who bought NFT.

Either FLOW tokens or stabelcoins credited to each collector’s wallet will be distributed. We are currently working out the details, but expect the distribution amount to be approximately 20 percent of the original price for each NFT Vault token purchased.

So even in a best-case scenario, users will only get a small fraction of what they invested. And this is a fairly popular story in the cryptocurrency world. Here it is enough to remember the "compensation" of LUNA investors who received coins based on another blockchain after the collapse of the ecosystem. The amount received was not even close to the total amount of losses.

NFT tokens from Vault

Naturally, the sudden closure of Vault was not a fraud. Rather, the heavy-handed decision was most likely influenced by the prolonged decline in NFT trading volumes, which caused CNN to have to abandon its initiative. Let’s hope that the channel’s management will reconsider its decision at the bull run and, until then, users will find an equally interesting project that is capable of performing in unfavourable market conditions.


We believe that this news is particularly useful for the cryptocurrency industry during the current bearish trend. Yet it is now clear that even experts at Google, which is not particularly connected to the world of decentralised assets, support the phenomenon and recognise its potential. And that's an excellent counterargument against critics, who traditionally claim the imminent collapse of the crypto niche given its current subsidence.


What do you think about it? Share your opinion in our Millionaire Crypto Chat. There we will discuss other important developments about blockchain.