Bitcoin Daily: Dogecoin Can Now Be Purchased At CoinFlip ATMs; MoneyGram Faces Lawsuit Over XRP

Crypto users can now buy dogecoin with cash at 1,800 CoinFlip ATMs across the U.S., according to CoinDesk, citing a tweet from CoinFlip.

The dog meme-themed digital coin was founded in 2013 reportedly “as a joke,” PYMNTS reported, and saw its price surge earlier this year following a Reddit post that encouraged users to make it the next GameStop, CoinDesk reported.

“CoinFlip has always been about the small business and retail customers, and with recent events, dogecoin has paradigm-shifted itself into more than just a meme coin, it has become a symbol of the small league investors,” a CoinFlip spokesperson told CoinDesk.

CoinFlip, which expanded from about 451 ATMs last year to today’s 1,800, also offers bitcoin, ether, litecoin, dash, stellar, chainlink, komodo and tron. The firm aims to have over 4,000 ATMs by the end of 2021, CoinDesk reported.

In other news, MoneyGram is facing a lawsuit from investors who bought the cryptocurrency XRP when MoneyGram was using it for money transfers, which was before the U.S. Securities and Exchange Commission (SEC) filed suit against Ripple, according to a press release. The SEC claims that the digital coin is a security and must be regulated.

Rosen Law Firm alleges that MoneyGram’s “public statements were materially false and/or misleading at all relevant times,” and claims that “investors suffered damages,” the release stated. The firm is representing those who bought securities of MoneyGram between June 17, 2019, and Feb. 22, 2021.

Meanwhile, Chiliz, a blockchain venture that runs sports fan engagement platform Socios.com, plans to invest $50 million to expand to the U.S., Reuters reported.

Its fan tokens are supported by Binance, and fans can win them by voting in polls and through promotions and rewards, the report stated.

With the expansion, which includes opening a New York office, the company plans to target top sports franchises in the U.S., according to Reuters.

“We head to the U.S. with a proven track record in generating millions of dollars of revenue for some of Europe’s biggest sporting organizations,” Chiliz CEO Alexandre Dreyfus told Reuters. “In 2020, we shared more than $30 million with our partners, but this year we’re targeting a minimum of $60 million.”

Along with the five major sports leagues, Chiliz is talking with Formula One and various eSports teams, Reuters reported.

Lastly, FTX users can now deposit “more or less” any currency to their account using PayPal, according to a tweet from the cryptocurrency exchange’s CEO, Sam Bankman-Fried. Fiat deposits are “instant” and can be made with credit cards.

Deposits incur fees, and larger payments are cheaper if made over wire, Bankman-Fried noted in his tweet.