Latest Crypto News About the Blockchain Industry. The virtual currency market is experiencing an upsurge of interesting events, such as PayPal officially endorsing bitcoin and the CEO of Binance denying rumors that its US subsidiary is aimed to avoid laws. The most recent cryptocurrency news that has been reported worldwide is compiled below.
PayPal and its New-Found Crypto Love
Most conventional banks have been on high alert ever since cryptocurrency emerged. Legacy institutions are powerless to stop the meteoric rise and widespread adoption of cryptocurrencies like Bitcoin and Ethereum. As an example, consider PayPal. The company recently revealed that it will include features that let users pay with virtual currency.
In the beginning, the service will only be available to users in the US. It will contain Bitcoin, Ethereum, Litecoin, and Bitcoin Cash, among others. The financial institution will let customers do more than just shop; they will also be able to own, trade, and purchase digital assets. The CEO of PayPal had previously lauded the resiliency, accessibility, speed, and inclusivity of cryptocurrencies.
SIM swapping 19-year-old indicted for stealing cryptocurrencies
Kyell Bryan, a 19-year-old, and Jordan Milleson, a friend of Bryan’s, were indicted for the illicit acquisition of virtual currency through a SIM swapping operation. They obtained $16,847 worth of cryptocurrency from a crypto investing firm through the plan.
In order to pull off the operation, Milleson used fake websites to steal victims’ login credentials. Bryan gained complete access to the victims’ cryptocurrency accounts by exchanging SIM cards, since the majority of these accounts require the user’s mobile phone for two-factor authentication.
Unfortunately, Bryan retaliated because Milleson chose to bench Bryan after receiving the payments. The federal district court in Maryland presented the two with numerous charges. Including wire fraud and the purpose to defraud victims through the unlawful access to private computing devices.
JPMorgan Harnesses BTC’s Popularity to Prop JPM Coin
Another piece of recent crypto news is that experts at the global financial bank JPMorgan have predicted that the price of Bitcoin would soon skyrocket, perhaps tripling in value. Additionally, they mentioned that one investing option was to exchange Bitcoin for gold.
Regrettably, talking well of Bitcoin served to promote JPM Coin, their own digital asset. The bank also announced the launch of Onyx, a crypto-focused business department with more than 100 employees, just before the Bitcoin praise. According to JP Morgan Chase’s Takis Georgakopoulos, who is in charge of the bank’s bulk payments unit, an unidentified tech company is already using JPM Coin for international money transfers.
CZ denies claims Binance US was Born to Circumvent Regulations
Changpeng Zhao, better known as CZ in the crypto community and CEO of Binance. Addressed allegations made in a Forbes story published on October 29. Michael Del Castillo, the author of the piece, allegedly asserts in the most recent crypto news that the US outfit is a means to elude the long arm of US regulators. Castillo asserted that he possessed a video presentation. That revealed the exchange’s complex strategy to operate within the country while evading rules.
According to CZ, Binance is not affiliated with the video’s creator and the company’s activities in the nation are “within the boundaries of the law.”
