Top Blockchain and Crypto News — 10/21/2020
BREAKING: Paypal to Allow Its Over 346 Million Users to Buy and Sell Bitcoin
Leading US-based financial services company PayPal will now allow its over 346 million users to buy and sell bitcoin and other cryptocurrencies directly from their wallets.
A Reuters report on Wednesday confirmed the development, revealing that the new option to buy and sell cryptocurrencies will be available for U.S customers within the coming weeks.
PayPal also plans to allow users the option to use cryptocurrencies to shop on any of the 26 million online merchants using its network, while integration with Venmo and some other countries will take place in 2021.
Kik and The SEC Reach a $5 Million Agreement to End Their Legal Battle
The story of the legal battle between Kik and the SEC seems to be coming to an end. Today, the SEC filed a motion with the Southern District Court of New York to close the case with a $5 million fine.
Kik was being sued for issuing and selling unregistered securities through the ICO of its KIN token. The accusation came when the SEC also attempted similar proceedings against TON’s ICO, the Telegram blockchain.
OKEx resumes P2P trading with three fiat currencies as withdrawals remain suspended
The P2P services started today at 12 pm (UTC) following the services’ suspension last Friday as the exchange lost touch with one of its private key holders. The crypto exchange giant OKEx announced today that it is resuming its peer-to-peer digital currency exchange services today with three fiats: Chinese yuan, Indian rupee, and Vietnamese dong. As reported earlier, the missing OKEx wallet private key holder turned out to be its founder Mingxing Xu, popularly known as Star Xu, was taken away by police. Internshala offers various internships in the crypto and blockchain field.
Rampant DeFi speculation makes DEXs the undisputed winners of Q3 2020
While it might seem that DeFi reached its bottom during Q3 2020, the sector still closed the last quarter with incredible performance. However, few of its aspects did as well as decentralized exchanges (DEXs) did, according to the latest report form Messari, which saw a significant increase in on-chain trading due to heightened speculation around yield farming DeFi projects.
People were making money hand over fist in Q3 2020
The newest darling of the crypto industry, DeFi, has seen a fair share of ups and downs in its lifetime, but few of them could even come close to the turmoil the sector experienced this summer. While at certain points it seemed that DeFi simultaneously reached both its top and its bottom, the latest report from crypto analytics company Messari showed that DeFi had actually seen its heyday last quarter.
Bahamian Central Bank Launches ‘Sand Dollar’ Digital Currency–World First?
The Central Bank of the Bahamas has become the latest national financial institution to launch a state-backed digital currency. The so-called “Sand Dollar”, pegged to the Bahamian dollar (which is pegged to the USD), is now available to all 393,000 Bahamian residents. While a number of countries around the globe have taken steps toward issuing central bank digital currencies (CBDCs) in the past, the Bahamas may be the first country to have successfully launched a completed CBDC.
The announcement of the new digital currency came in an October 20th Facebook post from “Project Sand Dollar.” The digital currency can be sent and received via mobile phone application, and can be used at any merchant “with a Central Bank approved e-Wallet on their mobile device.”
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