PayPal Plans To Enable Crypto Withdrawals – May 27

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $39,204

Bitcoin price has mostly ranged between $37,000 and $39,000 over the last day of trading, as volatility appears to be tapering off.

Top-20 altcoins have also cooled off, with Ethereum dropping less than 2% today, XRP falling 3% and Chainlink performing best with a 7% rise.

Top Stories for May 27, 2021 πŸ”₯

πŸ‘‰ PayPal Plans To Enable Crypto Withdrawals

PayPal has plans to enable customers to withdraw their cryptocurrency to third-party wallets, according to blockchain lead Jose Fernandez da Ponte. The revelation was made at the Consensus 2021 conference yesterday.

Since October 2020, PayPal users have only been able to purchase, hold and sell cryptocurrency within the PayPal platform, but have not been able to transfer their funds externally.

πŸ‘‰ Billionaire Investor Carl Icahn Considering $1.5B Investment In Crypto

Billionaire investor and founder of Icahn Enterprises, Carl Icahn, is considering entering the cryptocurrency market in the order of up to $1.5 billion, according to an interview with Bloomberg.

Icahn says he believes that skepticism over the value of cryptocurrency is “a little wrong headed”, citing the intrinsic value of the US dollar. He also elaborated on Ethereum being multi-faceted, being usable as both a payment system and store of value.

πŸ‘‰ Nvidia Identifies Ethereum 2.0 As Threat To GPU Demand

Microprocessor company Nvidia has cited Ethereum 2.0’s shift to proof-of-stake as a potential threat to demand for its graphics card (GPU) products.

The company’s financial results for Q1 2021 were revealed yesterday, reporting a year-over-year doubling in revenue for its gaming unit.

CFO Colette Kress acknowledges that cryptocurrency miners are partially responsible for the increase, however a company filing with the SEC states that demand from the mining sector may fluctuate.