PayPal

Paxos, the issuer of PayPal Holdings Inc (NASDAQ: PYPL) stablecoin, PYUSD, stated in a transparency report that the PYUSD is supported by cash reserves and U.S. Treasury reverse repurchase agreements. As of Aug. 31, $45.36 million is backed in Treasury securities, out of which $1.5 million is in...

Crypto infrastructure provider Paxos has taken responsibility for a Bitcoin (CRYPTO: BTC) transaction that incurred an exorbitant fee of $510,000.  What Happened: The company admitted to overpaying the BTC network fee on September 10, 2023, due to a bug affecting a single transfer.  "...

San Francisco-based cryptocurrency exchange, Kraken announced its phased introduction of support for euro and British pound deposits through PayPal Holdings Inc (NASDAQ: PYPL). TThe funding option was introduced earlier this week and is currently available only on the Kraken mobile app....

Software cryptocurrency wallet MetaMask announced the addition of a Sell feature today on its blog and X. This will enable users to convert their digital assets such as Ethereum (CRYPTO: ETH) to traditional currencies like the U.S. dollar and Great British pound (GBP...

Elon Musk could turn X (formerly Twitter) into an updated PayPal, according to a scop by Charles Gasparino, a correspondent for Fox Business News. What Happened:  Gasparino, a correspondent for Fox Business News, revealed that Musk has been in discussions with top Wall Street executives about...

In a recent interview, Reid Hoffman, ex-COO of PayPal Inc (NASDAQ:PYPL), blasted Tesla and SpaceX CEO Elon Musk for his handling of a merger that led to the creation of PayPal. Musk’s internet banking firm, X.com, merged with Confinity, a security software company co-founded by Peter Thiel,...

The cryptocurrency world was abuzz this week with predictions, launches, and significant transfers. From Dogecoin’s potential breakout to PayPal’s new stablecoin, the crypto landscape continues to evolve rapidly. Here’s a look at the top stories that shaped the week. Dogecoin...

Rep. Maxine Waters (D-Calif.) on Wednesday expressed concerns about PayPal Holding Inc's (NASDAQ:PYPL) entry into the dollar-pegged stablecoin market, stating that the company should have waited for federal regulatory approval.  What Happened: In a written statement, Waters said, "I am deeply...

The stock market experienced a tumultuous day, with the S&P 500 and the Nasdaq indices seeing significant fluctuations. The Nasdaq took a hit, closing lower by over 300 points, while the S&P 500 struggled to maintain its footing.The Nasdaq closed 2.17% lower at 13,973.45 — slipping below...

As Elon Musk sets out to rebrand Twitter as X and replace the bird logo as well, his biographer Walter Isaacson shed some light on the billionaire's infatuation with the name ‘X.' X’s Origin: Musk conceptualized the name ‘X' in 1999 as he was looking to start his next business venture and...

In April, total card expenditure per household was down 1.2% year on year, as measured by Bank of America aggregated credit and debit cards. This follows the trend seen in consumer prices.  The credit card data captured by Bank of America marked the first decline in card...

PayPal Holdings Inc (NASDAQ:PYPL) on Tuesday disclosed in a 10-Q filing with the Securities and Exchange Commission, or SEC, that it holds nearly $1 billion worth of customer assets in Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), Bitcoin Cash (CRYPTO: BCH) and Litecoin (CRYPTO: LTC) on its...

Finance and payments company PayPal Holdings (NASDAQ: PYPL) reported first quarter financial results after market close Monday. Here are the key highlights. What Happened: PayPal reported first-quarter revenue of $7.04 billion, which was up 9% year-over-year. The revenue beat a Street consensus...

Global payment giant PayPal Holdings Inc (NASDAQ: PYPL) invested a considerable portion of its financial liabilities in cryptocurrencies such as Bitcoin, as revealed in its recent annual report filed with the U.S. Securities and Exchange Commission (SEC) on Friday. The report stated ...

The housing market, which was the trigger point for the 2008 recession, is acting up yet again. The development is concerning given a majority of economists have begun discounting a moderate to severe recession. What Happened: Tesla CEO Elon Musk issued a premonitory warning over the weekend...