New York Yankees Starts Paying Employees In Bitcoin
The New York Yankees will leverage Bitcoin fintech NYDIG’s platform to allow its employees to convert part of their salary into bitcoin.The New York Yankees MLB team has partnered with NYDIG to enable its employees to be paid in bitcoin.NYDIG offers a benefits plan which allows employees to choose any portion of their salary to be converted into BTC with no transaction fees. The Yankees will become the first MLB team to pay its employees in bitcoin.The New York Yankees announced a multi-year partnership with institutional Bitcoin services provider NYDIG to allow its employees to be paid in....
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On July 14, 2022, the bitcoin company NYDIG, a subsidiary of Stone Ridge, announced that the firm inked a multi-year deal with the Major League Baseball (MLB) team the New York Yankees. According to the partnership announcement, NYDIG will be the professional baseball team’s “official bitcoin payroll platform.”
NYDIG Inks a Multi-Year Partnership Deal With the MLB’s New York Yankees
According to the bitcoin firm NYDIG’s announcement on Thursday, the company has entered a multi-year partnership with the American baseball team the New York....
GSM Solutions' Managing Director Alan Donohoe has responded to our email, explaining that the employees who are receiving part of their pay in bitcoin work in the head office: "We believed it best to start with our head office where we have five employees who work with bitcoin on a daily basis, so they understood the importance of this step in the evolution of bitcoin in Ireland." He adds that: "Paying our staff in bitcoin is another step in the direction of helping to extend the bitcoin ecosystem into our economy." An Irish company has begun paying its employees' salaries in bitcoin.....
A newly released survey from Bitwage, a bitcoin-focused payroll solution provider, has revealed that 47% of bitcoin companies are open to paying their employees in the digital currency. The survey sought to assess the sentiment toward bitcoin payroll options held at more than 150 bitcoin-friendly companies, most of which were based in the US. In total, 38 companies responded, with 18 reporting they would be open to paying bitcoin wages. Of the companies surveyed, 10.5% of the employers who responded are currently paying employees, at least in part, in bitcoin. Notable bitcoin companies....
There is a growing number of requests for Canadian employees to have their salaries paid in Bitcoin. CBC News reports that Canada employees are increasing the requests to be paid in bitcoin. Some companies have already proposed this option to their workers. According to Canadian tax laws, salaries received in Bitcoin are viewed as barter income and taxed based on the equivalent in Canadian dollars. A small but growing and surprising number of workers are rejecting Canadian dollar salaries for bitcoin, according to a Waterloo, Ont., payroll firm. Noel Carisse, a Canada Revenue Agency....
Bitcoin wages are becoming more common globally, particularly among “borderless” remote workers and in certain regions like Latin America. Are cryptocurrency wages an idea whose time has come? Maybe not. It’s one thing, after all, to dabble in Bitcoin (BTC) with one’s excess cash and quite another to take a significant portion of one’s salary in BTC. Moreover, there are often tax and custody questions about crypto, as well as concerns about price volatility. There’s the matter, too, that few actual items and services can be purchased at present with cryptocurrencies. It’s not surprising,....