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2021-08-02 13:08:26 ​​PayPal reportedly assembling crypto team in Ireland as Bitcoin adoption grows

The new hires will help PayPal expand its crypto-focused business offering at a time of rapid adoption of Bitcoin and Ether.

Global payments provider PayPal is in the process of recruiting for several cryptocurrency-related positions at its Ireland offices, further highlighting the company’s ambitions in the rapidly growing digital asset market.

The Dublin-based Irish Independent reported Sunday that PayPal is looking to fill various crypto-focused roles in compliance, anti-money laundering and business development for its Dublin and Dundalk offices.

PayPal launched a dedicated crypto and blockchain business unit earlier this year to support its foray into cryptocurrencies, which initially began in October 2020 by allowing customers in the United States to buy Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and Litecoin (LTC). In March of this year, the company expanded its offering by allowing U.S. customers to pay for goods and services using their digital asset holdings. Two months later, PayPal said it would allow customers to withdraw their cryptocurrencies to third-party wallets.

Dan Schulman, PayPal’s CEO, said in April that his company’s crypto business exceeded all expectations in its first six months of operations. The rapid uptake of digital assets such as Bitcoin and Ether coincided with a massive price surge that pushed the overall cryptocurrency market to a nearly $2.6 trillion valuation. Although prices corrected sharply between May and July, crypto markets appear to have found a bottom and are now trekking upward again.

During PayPal's quarterly earnings call last week, Schulman indicated that the company's crypto trading service would be coming to the United Kingdom in the very near future. Upgrades that would allow for faster payments processing are also in development, he indicated. Open / Comment

2021-07-29 11:08:16 ​​Erik Voorhees lashes ‘disgusting’ behavior of Bitcoin maxis: ‘Not the community I come from’

Erik Voorhees is embarrassed by toxic Bitcoin maxis and told a podcast: “I don't know when they got into Bitcoin, but absolutely that is not the community that I come from in Bitcoin.”

Erik Voorhees, the founder and CEO of ShapeShift, has revealed in a podcast that he felt embarrassed and disgusted by the behavior of Bitcoin maximalists at the 2021 Bitcoin conference in Miami.

A Bitcoin OG who can see some merit in altcoins, Voorhees spoke on a panel during day two of the Miami conference in June. He caused a stir when he said “Did I hear someone on that prior panel say ‘If you’re against toxic maximalism, you’re against Bitcoin and you’re against freedom?’… Yeah, that’s some bullshit.”

The ShapeShift CEO expanded on those comments in a July 27 interview on the Unchained Podcast hosted by journalist Laura Shin. The 35-year-old slammed Bitcoiners who believe that toxic behavior such as trashing proponents of other cryptocurrencies is a good thing for BTC:

“They’ve spun themselves up into thinking that trashing these people is a virtue and it's helping Bitcoin. Frankly, I think it’s just kind of disgusting and I was embarrassed.”

He added: “These people were on stage talking about the virtues of toxic maximalism. I don't know when they got into Bitcoin, but absolutely that is not the community that I come from in Bitcoin."

Vorhees has spoken out before against toxic maximalism, but told Shin that the Miami conference was the first Bitcoin conference he’s been to in which he was “embarrassed about the people who were there.”

He stated that if there is a genuine enemy to Bitcoin and toBitcoin maxis, it is “central banks, banking and fiat currency” and not the “Dogecoin community or Ethereum community.”

ShapeShift is a noncustodial crypto exchange operated out of Denver and headquartered in Switzerland. The platform announced a full integration with cross-chain DEX THORChain in April which enabled direct trading of Bitcoin, Ether, and Litecoin. However, THORChain has suffered two multi-million dollar breaches from hackers this month, along with a third more minor breach.

“THORChain is very new early software and they’ve had a few pretty atrocious bugs recently. Right now the chain is offline. So it's not a panacea and it’s not ready for prime time, but it works. It works with real money and it's out in the wild getting better and better each week.” Open / Comment

2021-07-27 11:41:13 ​​Amazon denies rumored plans for Bitcoin support

Despite rejecting rumors the e-commerce giant will soon support Bitcoin payments, a spokesperson for Amazon has said the firm is still interested in the crypto space.

Amazon has refuted recent speculation it may be readying to support Bitcoin payments, asserting it currently has no plans for BTC.

According to a Reuters report on July 27 citing a spokesperson from the firm, Amazon remains interested in the crypto industry but has no specific plans to onboard digital assets for payments just yet:

“Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true.”

However, the spokesperson did not deny that Amazon is researching crypto payments, adding: “We remain focused on exploring what this could look like for customers shopping on Amazon.”

On July 22, Amazon posted a job opening for a digital currency and blockchain product lead. Four days later, London’s City A.M. newspaper ran a story citing an “insider” who claimed Amazon was “definitely” preparing to support Bitcoin payments and launch a native token — igniting frenzied anticipation for Amazon's purported crypto plans.

Chinese crypto media outlet, Wu Blockchain, attributed Amazon’s rumored plans to Monday’s surging market action — during which Bitcoin gained roughly 15% in less than three hours amid a violent squeeze that drove more than $110 million in liquidations. In a July 26 tweet, Wu stated:

“Bitcoin rose by 12% in one hour, leading the increase. Because [the] Chinese have just gotten up. It is obvious that the price of Bitcoin has started to rise after this rumor about Amazon spread in the Chinese community.” Open / Comment

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