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PayPal creates a new team dedicated to crypto support

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Online payments giant PayPal is creating a new team dedicated to crypto support , hiring staff for new positions related to cryptocurrencies.

According to reports , PayPal continues to open up to digital currencies by now seeking staff to fill roles on compliance and anti-money laundering controls.

Specifically, roles include PayPal’s blockchain, crypto and digital currencies (BCDC) business unit, which supports the payment giant’s cryptocurrency efforts. In addition, the new crypto-team will be active in its Dublin and Dundalk offices .

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This expansion of human resources would have the purpose of helping PayPal to expand its commercial offer therefore focused on crypto, to encourage a quick and easier adoption of Bitcoin and Ethereum.

In fact, last month, the online payment provider had increased the maximum limit for the purchase of bitcoins to $ 100,000 per week and removed the annual limit of $ 50,000. A fivefold increase in the weekly BTC purchase option which was set at $ 20,000.

PayPal and the crypto team: online payments and cryptocurrencies

The new crypto-team under construction will currently work to support the company for the 4 coins supported by the online payment giant: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). 

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Last week, the PayPal team stated that the platform ‘s new crypto wallet app is expected to be launched . Basically, users could start using the app dedicated to crypto by the end of this 2021.

An open door only to the US world for the time being which will serve to provide direct access to deposit funds, high-yield savings methods, messaging and other possibilities for using crypto.

Strategies those of the online payments giant that can no longer underestimate the sector led by bitcoin. Especially after that in June, the platform posted a new all-time high for daily trading volume in BTC.

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Basically, in just one day, bitcoins were traded on PayPal for a total value of more than 300 million dollars. This is a figure that had only been reached the previous month, but not yet exceeded.

In all this, the price of the queen of crypto bitcoin seems to have maintained a level of $ 40,000 over the weekend, returning to even touch $ 42,500. 

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Ripple

Coinbase CEO Shows Support for Ripple and XRP Amid Battle with SEC

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The XRP Army believes that Brian Armstrong could be hinting at relisting the cryptocurrency

Coinbase CEO Brian Armstrong has displayed support for Ripple in its fight against the U.S. Securities and Exchange Commission.

In a series of recent tweets, Armstrong writes that the company’s case is seemingly going “better than expected.”

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Armstrong stressed that launching attacks against the crypto industry and hurting investors is “politically unpopular.”

The head of the largest American exchange then channeled Ripple’s oft-repeated talking point about the SEC hurting consumers instead of protecting them:

The irony is that the people they are supposedly protecting are the ones attacking them.

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XRP relisting rumors get a new life  

Armstrong’s tweets inevitably reignited rumors about Coinbase potentially relisting XRP on its platform.

The exchange moved to suspend XRP trading after the SEC filed a lawsuit against Ripple on Jan. 19, which triggered a massive price drop.

As reported by U.Today, Coinbase relisting rumors started making the rounds on social media after XRP trading pairs started showing up on the company’s mobile app last month, but it ended up being a bug.

Despite its legal troubles, XRP has remained resilient, with crypto mogul Mike Novogratz recently noting that the cryptocurrency has tripled in value since the agency filed its complaint.

Coinbase’s run-in with the SEC

Ripple started alighting itself with Coinbase after Armstrong publicly called out the SEC for threatening to sue the leading exchange over its yet-to-launch lending offering.

Even though the company caved in to the SEC’s demands and shelved the product in question, it seems like it hasn’t buried the hatchet with the formidable regulator.

Earlier this month, Coinbase proposed replacing the agency with a new cryptocurrency-focused regulator, arguing that the laws from the 1930s were not suitable for the “technological revolution.”

The exchange will have to convince Congress to pass a legislation that will establish a dramatically different regulatory regime that it envisions.

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Bitcoin

Legendary Trader Peter Brandt Challenges Binance with Four Questions about 88% BTC Crash

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Here’s what is unclear for Mr. Brandt about mysterious Bitcoin (BTC) flash-crash of Oct. 21, 2021

Prominent trader and analyst Peter Brandt has taken to Twitter to ask his four questions in the context of the flagship crypto’s 88% dropdown.

What do Binance and Binance.US have in common?

First of all, Mr. Brandt challenged the character of corporate relationships between Binance and Binance.US, its unit focused on American markets.

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Also, Mr. Brandt asks whether Binance is planning to release detailed documents to specify statistics for trades, their volume and prices during the flash-crash.

Then, the trading legend asked about the role of the platform in taking the opposite side of a client fills.

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Besides the Binance CEO and co-founder Changpeng “CZ” Zhao, Mr. Brandt mentioned the Interactive Brokers platform, U.S. watchdogs CFTC and SEC and Gary Gensler, the SEC chairman.

Most expensive “trading algorithm bug” ever?

Also, Mr. Brandt attached a screenshot of a tweet by CZ when Binance’s boss warned his audience about expected volatility spikes across cryptocurrency markets.

Finally, Mr. Brandt added that he never used Binance for trading.

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As covered by U.Today previously, on Oct. 21, 2021, amidst a spending rally, the Bitcoin (BTC) price briefly tanked to the $8,000 level, losing more than 88% in no time.

A similar flash-crash was registered on 26 other low-liquidity exchanges. A Binance.US representative attributed this dramatic plunge to a critical bug in third-party mechanisms by one of the platform’s sophisticated institutional clients.

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Crypto Exchange

Crypto investments a financial backup for Facebook whistleblower

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Frances Haugen, a former Facebook employee turned whistleblower, revealed that her refuge in Puerto Rico is currently being supported by an auspiciously timed cryptocurrency investment.

Haugen worked as a Facebook product manager before accusing the company of spreading controversial and insensitive misinformation. She allegedly possesses numerous confidential research documents, which, according to her, shows that “Facebook prioritizes profit over the well-being of children and all users.” Previously, Facebook has been accused of influencing the 2016 United States presidential election with the help of Russian agencies.

In a follow-up interview with The New York Times, Haugen was asked about her financial situation:

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“For the foreseeable future, I’m fine, because I did buy crypto at the right time.”

The whistleblower also received financial help from nonprofit organizations (NPO) backed by Pierre Omidyar, a co-founder of eBay. However, Haugen clarified that Omidyar’s NPO fundings were only used to finance travel and related expenses.

According to Haugen, shifting to Puerto Rico helped her join her “crypto friends” who enjoy capital tax exemptions on Bitcoin (BTC) and cryptocurrency assets.

Iconic whistleblower and former U.S. Central Intelligence Agency agent Edward Snowden also continues to show support for the Bitcoin economy amid regulatory pressures from governments across the world.

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On Oct. 4, Snowden tweeted about Bitcoin’s tenfold growth despite China’s blanket ban on crypto mining and trading.

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