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π PayPal is Reportedly Considering letting users buy and sell Cryptocurrency. Big if True
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π PayPal is Reportedly Considering letting users buy and sell Cryptocurrency. Big if True
Also, Are you in the yield farming craze? Last week was DeFi-nately insane!
Hello Readers!
Do you know who wins the best customer support of the decade? This company. In other news, this week has weird for crypto branding. Someone literally trademarked the Bitcoin (BTC) name and logo in Spain. Wait wait wait, before you raise your digital pitchforks, hear him out; acting through a lawyer, the anonymous Spaniard claims his action is to "defend the Bitcoin brand" in Spain should anyone tries to misuse it for fraud or scam. Sounds like a noble enough cause. Though we're sure the world is keeping their eye on this anon π. This next one isn't so well-intentioned, however: An Australian business somehow manage to wrest away the "Binance.com.au" domain from Binance itself. Ironically, up to this point in time, that website isn't even working properly. Even so, the business claim to be a legitimate florist using the "binancΓ©" brand. Because of this, Binance cannot prove to the authorities that "binancΓ©" is not merely name squatting the .au domain. (Editor: yea, I call BS on that, mate!)
Today's newsletter features Paypal's foray into crypto, a huge token move by PlusToken, and a new way for Americans to buy crypto.
Hope you find this edition of The CoinGecko Newsletter useful to you! | | | | 24h Hot searches worldwide π |
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"PayPal, Venmo to Roll Out Crypto Buying and Selling" - SourcesAccording to sources approached by CoinDesk, PayPal and Venmo plans to roll out direct sales of cryptocurrency to its 325 million users. It is unclear which or how many cryptocurrencies would be available. One source said that the service could be expected "in the next three months, maybe sooner." (Editor: While the social validation of crypto by Paypal and Venmo sounds great, Isn't this akin to a Blockbuster store selling Netflix subscription?) CoinDesk | | PlusToken Moves $67 Million in EOS to Unknown WalletA wallet associated with alleged crypto Ponzi scheme PlusToken has moved 26,316,339 EOS tokens to an unknown wallet. PlusToken is believed to be one of the largest scams in the cryptocurrency history, as it reportedly held almost $3 billion worth of cryptocurrency held. Similar movements in the past from wallets associated with PlusToken have been followed by suspected massive open market sales on cryptocurrency exchanges. (Editor: It sucks that a blatant scam ring can move so freely on the blockchain. If history were to repeat itself, expect huge market moves) CoinTelegraph | | Bitcoin ATM lets US users buy Bitcoin in 20,000 StoresBitcoin ATM company LibertyX announced today that it's now making it possible for its customers to buy Bitcoin with cash across 7-Eleven, CVS Pharmacy, and Rite Aid stores across the US. The partnership with the 3 chains allows users to pay in cash for Bitcoin purchases using LibertyX's app whilst in store. A "$4.95 retailer service fee and miner fee" will apply, however, LibertyX will waive the fees for now.
While the announcement has already been made, most users will have to apply for a waitlist before being able to use the service. (Editor: Yes, KYC applies. So really this service is for the convenience of buying bitcoin with cash in a safe and brightly lit store.) Decrypt | |
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| Decentralized Autonomous Organization (DAO)An open sourced and decentralized organization that do not require centralized operators or controllers. A decentralized autonomous organization can vote on various aspects of a system without the need of central controller. Members of a decentralized autonomous organization are typically made up of token holders whose voting strength are proportional to their holdings relative to the whole ecosystem. Learn more terms with the CoinGecko Glossary | | Over the last week, we bear witness to the unbelievable rise in the valuation of Compound Finance's governance token (COMP) as well as the explosion on activity, borrowing and lending rates on various DeFi Dapps. The phenomenon got so prevalent that the term "yield farming" was even memed into existent to describe the process of repeatedly of collateralizing, borrowing, lending as much as possible to earn more COMP token in order to sell them on the open market. On a scale of 1-10, how positive are you about COMP and the future of Compound Finance's Decentralized governance structure? | | | | |
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