issuing

According to a Friday report by the Wall Street Journal, Amazon and Walmart are considering issuing their own dollar-backed cryptocurrencies.

This would allow the American merchant powerhouses to potentially save billions in fees and speed up settlements by bypassing traditional payment systems.

For now, such plans are only in exploratory stages, but they show that crypto finally has a mainstream use case.

As reported by U.Today, Apple, Airbnb, and several other tech giants are also exploring corporate stablecoins.

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Traditional financial institutions such as Bank of America and Fidelity are also preparing to join the trend.

These moves come amid the impressive growth of the stablecoin sector and a rapidly improving regulatory environment.

As reported by U.Today, the GENIUS Act, which is meant to regulate the stablecoin sector, advanced in the US Senate earlier this week. The final vote has been scheduled for June 17.

Standard Chartered recently estimated that the stablecoin market could swell to a whopping $2 trillion in just three years.

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Whoop’s new screen-less, fitness-focused Whoop MG wearable might have a major bug that can leave the device unusable, according to reports from Android Police and TechIssuesToday. Whoop launched the Whoop MG and Whoop 5.0 at the beginning of May, the company’s first major hardware release since it launched the Whoop 4.0 in 2021.

According to complaints on Whoop’s community forums and X, after setting up a Whoop MG, the wearable can mysteriously became unresponsive hours later, refusing to connect to a smartphone even when it should be charged. “I wore it for about 20 hours or so, but then it suddenly disappeared from the app, no sensor lights on, nothing appearing in the app,” one new Whoop MG owner shared on Reddit. On the company’s forums, Whoop suggests trying things like charging the MG, reconnecting it to your phone or resetting the wearable to see if that fixes things. Whoop owners have also been directed to contact Whoop’s Support team, and multiple faulty Whoop MG owners report that they’re being sent replacement wearables.

Engadget has contacted Whoop to get a sense for how widespread this issue is and what the company is doing to address it. We’ll update this article if we hear back.

Unlike other companies, Whoop doesn’t expect customers to buy a fitness tracker and then pay a subscription; Whoop’s subscription fee is inclusive of its hardware. With the Whoop 5.0 and Whoop MG, the company is also hoping to expand the number of metrics it tracks beyond just activity and sleep tracking to things like real-time stress monitoring and, in the case of the MG, blood pressure and ECG readings. What features you’re able to access ultimately depends on both the wearable you have and the subscription you’re paying for, though.

To access the Whoop MG in particular, you have to pay $359 annually, which starts to feel pretty egregious when the wearable might not work. Prior to this issue, Whoop was also caught denying free hardware upgrades to existing customers after previously suggesting it would send out new wearables to anyone who’d been a member for six months or more. Whoop reversed that decision a few days later.

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Amazon and Walmart Exploring Issuing Cryptocurrencies

One of Whoop’s new wearables has a bug so bad the company is issuing replacements