PayPal Holding Nearly $1 Billion Worth of Crypto for Their Customers! [ Crypto Espresso 5.10.23 ]

It's Wednesday and you know what that Means uh actually let me just look at my Hand It's News yeah it's news I didn't Cheat why I just I really wanted to know What my palm looked like anyway I'm your Host Andrew and this is crypto espresso Your teeny tiny daily shot of Caffeinated crypto headlines and here's The news first up Paypal one of the Largest electronic payments companies in The world has recently revealed that It's holding almost one billion dollars Worth of cryptocurrencies on behalf of Its customers according to a filing with The U.S Securities and Exchange Commission the SEC PayPal reported that It is safeguarding 943 million dollars In crypto assets as of March 31st 2023 The majority of these assets are Bitcoin And ether which account for 499 million And 362 million dollars respectively the Company which also owns venmo started Offering the option to buy sell and hold Cryptocurrencies on its platform in October of 2022 and since then it's Expanded its crypto services to include The ability to transfer send and receive Crypto between PayPal and other wallets And exchanges PayPal has also obtained a Full bit license from the New York Department of Financial Services Becoming the first company to do so well The crypto industry in the US is facing Increased regulatory pressure which has

Led to some of the top market-making Firms to scale back their trading Activities according to Bloomberg Jane Street group a leading firm in markets Such as ETFs and corporate bonds has Decided to limit its Global crypto Ambitions due to the uncertainty around The regulatory environment a person Familiar with the matter told Bloomberg That the firm found it hard to operate The business in a way that met its Internal standards jump crypto on the Other hand is still expanding Internationally but is withdrawing from The U.S market for similar reasons two People familiar with the matter said Both firms are still making markets in Crypto but on a smaller scale and have Not abandoned the industry completely The report said the regulatory Crackdown In the U.S has been triggered by the Collapse of high-profile firms and Projects in the crypto space like FTX And the Terry USD not so stable coin boy We sure love talking about ordinals why They are the hot new way of creating and Owning digital assets on the Bitcoin Network similar to nft's ordinals use The smallet unit of Bitcoin a Satoshi to Track ownership of content stored on the Blockchain such as images or text if You've been paying attention to crypto Espresso in the past week that's old News but this bit is fresh the

Popularity of ordinals has caught the Attention of binance who plan to add the Protocol to the binance nft marketplace Allowing users to buy and sell ordinals Using supported cryptocurrencies Bitcoin Ordinals on binance nft Marketplace is a Positive sign for the development of Ordinals as a platform for nft issuance However the concept of ordinals of Course has been rather controversial in The greater Bitcoin Community as many Purists would rather see block space Used solely for the peer-to-peer cash Use case it's also chunking up the Network a bit and for those of you Playing along at home say it with me Binance is the parent company of coin Market cap the former head of FTX the Global cryptocurrency exchange is facing A dozen criminal charges in the U.S for Allegedly defrauding customers investors Lenders and the government Sam bankman Freedor SBF as he's colloquially known Was arrested in the Bahamas in December And is trying to dismiss most of the Charges on technical grounds SBF is Accused of misappropriating billions of Dollars of customer funds deposited with FTX and then using them for his own Benefits and for his crypto hedge fund Elevator research he's also charged with Securities fraud money laundering bank Fraud and campaign Finance violations For trying to influence U.S politicians

With illegal donations the collapse of FTX in November caused massive losses to Its stakeholders and shook the crypto Industry though benkman freed has denied Any wrongdoing and claims that he's a Victim of the classic rush to judgment By the U.S authorities and finally bull Bitcoin a Canadian Bitcoin exchange has Announced a new feature that allows Users to buy Bitcoin without going Through the know your customer or kyc Verification process to use this service Users need to place an order on bull Bitcoin's website and select the no kyc Purchasing option once the order is Placed users receive a QR code that they Can take to any Canada Post location to Pay in cash this feature provides an Easy accessible and private way for Canadians to purchase Bitcoin without Having to go through the tedious kyc Process bull Bitcoin is able to offer This new service because the exchange is Only required to conduct kyc checks on Purchases that are over 1 000 Canadian Dollars The Exchange says that they will Charge a two percent fee for Bitcoin Purchases that take advantage of this New offering and here's an offering that You can take advantage of even if you Don't bleed maple syrup like this video Subscribe to our YouTube channel and Click on that little bell icon to get Buzzed whenever a new crypto espresso

Video goes live and what did you think About today's episode let me know in Those comments below because I read them Veron Marinkovic said on yesterday's Show free money for scanning your Eyeball wow that is so cool right I'm Sensing sarcasm well when there is free Money involved masses will get wrecked One way or another that I can promise Well now now Veron scanning your eyeball Is a form of uh it's labor so it's not Exactly free right right questions about Our headlines or crypto in general why Not take the plunge and ask Alex in that Description below Alex is always a great Resource for all things web 3 and the Metaverse and that about does it for Today as always I've been your host Andrew these have been your headlines And we'll see all of your beautiful Shining faces tomorrow