PayPal and Venmo to Launch Cryptocurrency Services – June 23

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$9,644

Bitcoin price broke out of its recent range overnight, with price action rocketing back up into the high-$9,000s.

Top-20 altcoins have performed very well, with Ethereum rising 2%, XRP remaining unchanged, and Chainlink leading the pack once again, with a 9% gain.

Top Stories for June 23, 2020 🔥

👉 PayPal and Venmo to Launch Cryptocurrency Services

Multiple sources have reported that payments giant PayPal plans to launch direct buying and selling of cryptocurrency, via PayPal and Venmo.

One source stated that the venture will involve a built-in cryptocurrency wallet, with another expecting the service to launch as soon as within the next two to three months.

The move would see PayPal follow in the steps of other major payments companies such as Square and Revolut, who both offer cryptocurrency purchases.

👉 Rumored PlusToken Wallet Moves $67M Worth of EOS

A cryptocurrency wallet believed to belong to PlusToken – an alleged Ponzi scheme – has just moved $67 million worth of EOS, sparking some worry among the EOS community.

PlusToken separated users from up to $3 billion worth of cryptocurrency last July, with analysts attributing a series of sell-offs to laundering of the stolen funds.

👉 Former CFTC Chair Argues that XRP is Not a Security – But He Has Ties to Ripple

Former chairman of the Commodity Futures Trading Commission (CFTC), Christopher Giancarlo, released a paper last week arguing that Ripple’s XRP cryptocurrency is not a security.

The paper was co-written by Giancarlo and published in the International Financial Law Review, however a strong conflict of interest has been pointed out by the community: Ripple Labs is a client of Giancarlo’s current law firm.

 

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