Crypto Corner Podcast: Cryptocurrency Stocks In The News: (Nasdaqgs: Pypl) (Nasdaqgs: Coin) (Nasdaqcm: Btbt)
Today’s podcast is sponsored by Fintech Company AppTech Payments Corp. (nasdaqcm:apcx ) .
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Crypto Corner Podcast: Cryptocurrency Stocks in the News: (NasdaqGS: PYPL) (NasdaqGS: COIN) (NasdaqCM: BTBT)
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Stocks discussed: (NasdaqGS:PYPL) (NasdaqGS:COIN) (NasdaqCM:BTBT)
Payments platform giant PayPal Holdings, Inc. (nasdaqgs:pypl ) has announced a temporary stop of its crypto purchases in the UK, according to a report from cointelegraph . In an email to select UK users, PayPal indicated that cryptocurrency purchases would be paused in the UK starting on October 1, 2023, but added that they “expect to re-enable crypto purchases in early 2024.” This, according to the email, is being done as a response to new rules enacted by the UK’s Financial Conduct Authority (FCA) requiring crypto firms to adopt some additional steps before clients can buy cryptocurrency.
Coinbase (nasdaqgs:coin ) has announced that it has secured regulatory approval from the National Futures Association (NFA), a CFTC-designated self-regulatory organization, to operate a Futures Commission Merchant (FCM) and offer eligible US customers access to crypto futures. This, according to the company’s official blog post, will make Coinbase “the first crypto-native leader to directly offer traditional spot crypto trading alongside regulated and leveraged crypto futures, on an integrated trading solution for our verified customers.” An excerpt reads:
The global crypto derivatives market represents ~75% of crypto trading volume worldwide and is a critical trader access point. The ability to trade using margin gives customers leverage and access to the crypto market with less upfront investment than traditional spot trading. Being able to express long and short positions, investors also use derivatives to manage risk on their underlying crypto assets.
Bit Digital, Inc. (nasdaqcm:btbt ) has reported its financial results for the second quarter of 2023. Highlights include a total revenue of $9 million – largely earned from the company’s Bitcoin (btc ) mining business, total assets worth $100.4 million as of June 30, 2023, and the earning of 318.4 BTC in the quarter. An excerpt from the Management Commentary section of the press release reads:
“The second quarter of 2023 was a transitional quarter for Bit Digital as we exited certain legacy hosting relationships, forged new strategic partnerships, and began to execute on our growth initiatives. As of June 30, 2023, our mining operations were approximately 99% carbon-free, a significant improvement from the prior quarter and nearly achieving our goal for our mining operations to become entirely carbon-free. We continue to believe that our industry can only reach its full potential if we remain leaders in environmental sustainability, and Bit Digital intends to lead by example.”
Sam Mowers, Investorideas
For investors following the sector Investor Ideas has a comprehensive bitcoin, blockchain and digital currency stocks directory
Podcast sponsor:
AppTech Payments Corp. (nasdaqcm:apcx ) is an innovative Fintech company whose mission is to deliver a better way for businesses to provide their customers with immersive commerce experiences. CommerseTM, its all-new, patent-backed technology platform powering seamless omni-channel Commerce Experiences-as-a-Service (CXS), drives highly secure, scalable, cross-border digital banking, text-to-pay, crypto payments and merchant services altogether from a single, unified stack designed to increase operational efficiencies and growth for businesses while providing the economic convenience that their customers demand from today’s commerce experiences. For more information, visit apptechcorp.com .
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