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PayPal Reportedly Discussing Its Own Stablecoin

Online payment operator PayPal is reportedly discussing the creation of their own fiat-backed stablecoin.

Initially reported by The Block, several unnamed individuals quoted to be familiar with the situation state that PayPal is engaging with a number of different developers, including Ava Labs, around the potential launch of their own stablecoin. With PayPal reportedly engaging with a number of different stablecoin developers, it’s rumored that PayPal could likely lean on a third-party company to develop the firm’s coin.

This isn’t the first sign of PayPal looking to dig into the crypto landscape, of course. The payments behemoth has previously acquired…


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Another company buys Bitcoin: $100 million

South Korean-Japanese game publisher Nexon has become the latest publicly traded company to add Bitcoin to its balance sheet.

As the firm announced on Wednesday, it has bought $100 million worth of bitcoin, which represents less than 2% of its total cash and cash equivalents. This makes Nexon the first Japan-listed company to hold bitcoin.

With its purchase, Nexon joins the ranks of a growing number of companies that have converted part of their holdings to Bitcoin. …


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Venmo adds support for Bitcoin payments

Venmo announced yesterday that it will be adding support for crypto payments for its more than 70 million users. This move will allow its users to buy, hold, and sell and cryptocurrencies like Bitcoin, Ethereum, Litecoin, and BCH directly in the app.

The move is similar to Venmo’s parent company, PayPal, adding support for crypto which was announced late last year.

“Crypto on Venmo is a new way for the Venmo community to start exploring the world of crypto, within the Venmo environment they trust and rely on as a key component of their everyday financial lives.”

According to…


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Bitcoin reaches all-time high above $64.500

In the market rally which started yesterday, the Bitcoin (BTC) price has shot another 6% today hitting its new all-time high of $64,500 levels. Because of this, the market cap touched $1.2 trillion thereby making it even bigger than Britain’s Sterling Pound (GBP).

This makes Bitcoin the sixth largest currency in the world as per its valuations. Just a few days back, Bitcoin toppled the Australian Dollar (AUD) as it surged to record highs.

Coinbase direct listing starts today, reference price at $250 per stock

The American crypto-exchange Coinbase will make its debut on the stockmarket today. Yesterday the Nasdaq shared their reference price at $250 for the COIN-stock.

The…


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Coinbase reports $1.8 billion in revenue, 56 million verified accounts

As major cryptocurrency exchange Coinbase prepares to start trading publicly on Nasdaq, it announced its first quarter estimated results and outlook for 2021 as a whole.

Its net income for the quarter is estimated at between $730 million to $800 million, with total revenue of approximately $1.8 billion — up from about $190.6 million in the first quarter of 2020.

It estimates its verified user count for the quarter to be 56 million (up from 43 million at the end of 2020), with 6.1 million counted as monthly transacting users (MTUs). …


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Tesla helps to fix bugs in open source Bitcoin software

The auto giant Tesla has gone a step further than simply buying bitcoin and accepting BTC for selling their cars. They now even contributed fixes to open-source software built on the Bitcoin network.

In a tweet, the developers behind the popular payment processor and wallet service BTCPay Server wrote:

After spotting a potentially critical flaw in code posted on the GitHub repository by BTCPay Server, Tesla reached out to the project and helped the developers create a patch.

Source: cryptonews

First fully regulated American ‘blacklist’ mining farm

Major American-based mining firm Marathon Digital Holdings has announced the launch of what it describes as the first North…


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Tesla begins accepting Bitcoin

Tesla has started accepting bitcoin payments. Musk, whose title is now Technoking of Tesla, also confirmed that all “Bitcoin paid to Tesla will be retained as bitcoin, not converted to fiat currency.”

Musk further tweeted that the “pay by bitcoin capability” will be available outside the U.S. “later this year.” In addition, he also noted that his company “is using only internal & open source software & operates bitcoin notes directly.”

Tesla first revealed its plans to accept bitcoin payments in a filing with the U.S. Securities and Exchange Commission (SEC) last month, when it also informed the regulator…


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Visa to enable Crypto purchases with Credit Card

Visa is making important moves ahead to get closer to the rapidly evolving crypto payments industry. In the latest podcast with Fortune’s Leadership Next, Visa CEO Al Kelly talked about the company’s plans on digital currencies.

The payments giant hinted that the company might soon initiate the facility to make crypto purchases via credit cards. During the interview, Kelly said:

“We’re trying to do two things. One is to enable the purchase of bitcoin on Visa credentials. …


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Norwegian company steps into Bitcoin market

Aker ASA, a Norwegian oil and energy firm, is establishing a new unit called Seetee, dedicated to investing in bitcoin and blockchain technology, the industrial holding company said on Monday.

Seetee AS initially invested 500 million Norwegian crowns ($58.6 million) of their liquid assets in bitcoin. They also collaborate with Blockstream, focusing initially on bitcoin mining.

Aker, a holding company controlled by Norwegian billionaire investor Kjell Inge Roekke, derives most of its income from the oil and gas industry, and has in recent years increased its investments in renewable energy and information technology.

Source: Reuters

NYDIG raises $200 from strategic partners

NYDIG, a leading provider…


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Bitfarms wants to purchase over 48 thousand mining rigs

Bitfarms, one of the largest publicly traded Bitcoin mining operations in the world, plans to purchase 48,000 new miners over the next two years.

The Canadian mining company has sourced the equipment from Chinese supplier MicroBT in a bid to increase its hashing capacity by another 5 EH (exahashes). Bitfarms was founded in 2017 and currently has a capacity of 1 EH. It has targeted a 200% increase by the end of 2021.

The hashing capacity is the amount of calculations that a rig can dedicate to mining Bitcoin or cryptocurrencies. …

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