The most important news this week
PayPal hires crypto engineers amid rumors about Bitcoin integration
There have been many rumors about PayPal this week. The report said the electronic payment giant plans to allow hundreds of millions of users to directly buy and sell digital currencies. Jobs for crypto and blockchain professionals added fuel. PayPal has not yet confirmed whether these reports are true, but if they are true, this could be an important point in Bitcoin's pursuit of this trend. As expected, some of the most popular code names saw this bullish sign and renewed expectations for BTC to rise to $ 12,000. But some – such as Jake Yumum Beat, Decred's co-founder – are skeptical of rumors. He told Cointelegraph: “PayPal is especially known for denying users legal access to funds earned on their platform without giving reasons. Users whose money is limited in this way are designed to prevent something from cryptocurrency, which makes this integration, if it is limited, really progress, a strange mix. ”
Bankcard files that issue default debit cards due to bankruptcy
Very rarely, the first story in the Financial Times sends shockwaves through the crypto sector – but this week it is lost. Wirecard, a troubled financial technology company that recently discovered a $ 2.1 billion gap in the economy, has opened a bankruptcy case. The company operates with many encrypted debit cards in the market and is trying to cope with its debt obligations. Earlier this week, former CEO Marcus Brown was arrested on suspicion of falsifying the accounts of a besieged company – and released on bail of $ 5.6 million. The decline of Wirecard is already affecting crypto card users, and the subsidiary responsible for issuing debit cards has been suspended by the UK Financial Conduct Authority. This means that customers could not use it. Crypto.com, one of the companies using Wirecard services, confirmed that the assets of their users are safe and said that the money will be quickly returned to cryptocurrencies. She is now looking for alternative solutions for reusing cards.
Bitcoin is recovering to support $ 8,800, and traders continue to explain the decline
On Saturday, BTC fell below $ 9,000 to a low of $ 81,313 – but buyers seemed to be eager to buy those drops. Moderate withdrawals are common on weekends, as trading volumes tend to decline. Cointelegraph shareholder Marcel Perlman said the market is in a somewhat neutral zone after 1.06 billion expired on Friday. Options and options expired on Friday. He explained: “The expiration of the options did not have much effect, because most of the communication options were aimed at $ 10,000 or more.” There are other threats that threaten. There is a close relationship between Bitcoin and the US, which gives cause for concern that Bitcoin is prone to lower prices. Some, such as the PlanB stock glider, find this not so bad. He said: “I think this is good news. I would be very concerned if all these trillions of quantitative easing went to stocks, bonds, real estate, gold … but not to Bitcoin. ” Other cryptanalysts are also optimistic. Well-known trader SteveCrypt0 said: “We can fall to 6300 or even fall to 6000, and we are still bullish. In fact, there will be a good correction in the gold pocket at 0.618 Fibonacci. ”
SEC telegram epic reaches end of $ 1.2 billion
Finally done: Telegram and SEC when the settlement. The messaging app was in hot water after it raised $ 1.7 billion in an ICO for GRAM codes, which the regulator said was an illegal sale of securities. Telegram is now returning $ 1.2 billion to investors and must pay a fine of $ 18.5 million. The company has already confirmed that the open Telegram network died in the water. The Securities and Exchange Commission said: “We want new and innovative companies to participate in their capital markets, but announced that a result has been achieved, but they cannot do so in violation of registration requirements in federal securities laws.” Unfortunately, it is not clear how Telegram or other potential ICO issuers could satisfy the Securities and Exchange Commission at this time.
Analyst: Half of the first ten encodings are “definitely not worth it” to be there
Simon Dedek, co-founder of the Blockfyre crypto research, threw a huge horny nest – and it can annoy many people. He said in an alluring tweet: “I want to seriously hate him, but I support my opinion: $ XRP, $ BCH, $ BSV, $ LTC and $ EOS definitely do not deserve to be in the top 10 cryptocurrencies.