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PayPal Bans User for Trading Crypto in a “Misunderstanding”

26 Nov 2020 1 minute read 6 comments Abhimanyu Krishnan

Paypal has suspended a user’s funds because his cryptocurrencies trades were misunderstood to be item sales, according to the user, who posted the grievance on Reddit on Nov. 25. Reddit user TheCoolDoc said he bought $10,000 worth of crypto within a...

Square Buys Credit Karma's Tax Service for Cash App Integration

26 Nov 2020 1 minute read 0 comments Abhimanyu Krishnan

Payments firm Square will buy Credit Karma’s tax application for $50 million, according to a press release issued on Nov. 25. Square will buy the self-reporting tax filing service Credit Karma Tax on behalf of its Cash App The service will be made a...

Chainlink CEO Expects Flash Attacks to Ramp Up

25 Nov 2020 1 minute read 5 comments Abhimanyu Krishnan

Chainlink (LINK) co-founder Sergey Nazarov believes that the DeFi market will experience more flash loan attacks going forward. Nazarov made the statement during a Decrypt Daily podcast on Nov. 24. Nazarov said that the main pain point with respect...

Bitcoin is Now Bigger Than JPMorgan

25 Nov 2020 1 minute read 1 comment Abhimanyu Krishnan

Bitcoin’s market cap has reached a new “milestone” -- surpassing investment bank JPMorgan Chase’s market cap on Nov. 23 with a market cap of $356.6 billion.  Bitcoin’s recent rally, which has put it tantalizingly close to its all-time high, has the...

Gold Investor Says that Bitcoin Will Probably Reach $300-500K

25 Nov 2020 1 minute read 1 comment Abhimanyu Krishnan

Co-founder of Gold Bullion International, Dan Tapiero, speaking on the Pomp Podcast on Nov. 23, said that he expects Bitcoin to reach six-figure valuations of up to $500,000 within the next 5 years. When asked by Anthony Pompliano about where he saw...

Coinbase Pro Disables Margin Trading, Citing CFTC Guidance

25 Nov 2020 1 minute read 0 comments Abhimanyu Krishnan

Coinbase Pro will disable margin trading from Nov. 25, according to an announcement made on Nov. 25. Coinbase cited guidance from the United States Commodity Futures Trading Commission as the reason why it has disabled the product The exchange also...

P2P Insurance Network Cover Protocol Executes Claim for Pickle Finance Hack

25 Nov 2020 1 minute read 0 comments Abhimanyu Krishnan

Decentralized insurance coverage network Cover Protocol announced on Nov. 24 that its users had successfully agreed to payout a coverage for the Pickle Finance hack that occurred on Nov. 23. Cover Protocol will cover some of the funds from the $20 m...

China Bank Halts $3B Blockchain Bond

24 Nov 2020 1 minute read 6 comments Abhimanyu Krishnan

On Nov. 23, China’s second largest bank, the China Construction Bank (CCB), withdrew its listing of $3 billion in debt securities on the blockchain, according to an announcement from partner exchange Fusang. The Fusang exchange said that the CCB had...

JPMorgan Chase Analysts Say That Institutional Funding Has Been Rising in Q4

24 Nov 2020 1 minute read 2 comments Abhimanyu Krishnan

Analysts from multinational investment bank JPMorgan Chase, in a report published in early Nov. 2020, have said that institutional players are investing heavily into Bitcoin in Q4 2020 than they were in Q3 2020. Analysts Nikolaos Panigirtzoglou, Mik...

Binance Tells US Users They Have 14 Days to Close Account

24 Nov 2020 1 minute read 7 comments Abhimanyu Krishnan

On Nov. 23, Binance began telling some of its users in the US via email that they would have 14 days to withdraw their holdings, failing which their accounts would be locked. The exchange began blocking US users in early Nov. 2020. Binance expects i...