The battle for control of China’s huge digital payments market escalated as Meituan downgraded access to Alibaba’s Alipay. Meituan Dianping, the online marketplace for food delivery, travel and other services, will no longer offer Alipay as a preferred payment option for new users. Instead, Meituan will more prominently feature the digital wallet of Alibaba’s arch-rival Tencent, the social...
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The Hullabaloo of Zuzalu: Inside the Secret Pop-up City of Vitalik Buterin’s Dreams
Until it reached its planned obsolescence last week, the mythical city of Zuzalu was an intellectual wonderland. Days at Zuzalu began shortly after dawn at the edge of the Adriatic Sea. In the pursuit of an infinite life, Zuzalans (as they self-identify) enjoyed submerging themselves in the frigid waters of Montenegro at 8 a.m.—and again at 1 p.m., depending on their level of...
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In November 2021, just as crypto prices were hitting all-time highs, MoonPay—a crypto payments startup that celebrities including Jimmy Fallon and Paris Hilton had praised for its non-fungible token “concierge” service— announced it had completed its first ever outside fundraising: an eye-popping $555 million round at a $3.4 billion valuation from investors including Tiger Global Management and Coatue Management.