PayPal Rumored To Buy Curv, Goldman Sachs Reenters Bitcoin + More News

PayPal Rumored To Buy Curv, Goldman Sachs Reenters Bitcoin + More News

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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Investments news

  • PayPal is said to be in the process of buying crypto custodian Curv, Coindesk reported, citing three undisclosed sources “familiar with the situation.” Israeli news website Calcalist first reported that Curv is in negotiations with an undisclosed bidder, while the deal value might reach USD 200m – USD 300m. Per Coindesk’s source, who reportedly said that “from where I’m hearing it, I’m pretty sure it’s true,” the deal is valued at USD 500m. As reported in December last year, PayPal abandoned its plans to acquire US-based major crypto custodian BitGo as the talks had fallen through, but PayPal the company was still exploring other potential acquisitions.
  • Investment banking giant Goldman Sachs has restarted its cryptocurrency trading desk and will begin dealing bitcoin (BTC) futures and non-deliverable forwards for clients starting next week, Reuters reported, citing a person familiar with the matter. The team is also a part of Goldman’s activities within the digital assets sector, which includes projects involving blockchain and central bank digital currencies. As part of this work, the bank is also exploring the potential for a bitcoin exchange-traded fund and has issued a request for information to explore digital asset custody, the report added.
  • Evolve Funds Group said it has filed a preliminary prospectus with the Canadian securities regulators for the Ether ETF (ETHR), which is designed to provide investors with exposure to ethereum (ETH).
  • Canadian-headquartered crypto exchange Simply Digital Technologies Inc. – D/B/A CoinSmart – has recently closed a CAD 4.5m (USD 3.56m) seed round of financing through the issuance of interest bearing convertible debentures. According to the press release, the company’s plan is to fuel the expansion of its platform into Europe and support operational updates.
  • US-based crypto investment firm BlockTower Capital said it has acquired a USD 20m stake in the Fantom (FTM) ecosystem through investment. Per the firm, Fantom’s core value proposition – “a high-throughput, scalable, fast, and inexpensive layer 1 network that can serve as a Ethereum load balancer.”
  • State Street Corporation said it has been appointed as the fund administrator and transfer agent of the VanEck Bitcoin Trust, a new bitcoin exchange-traded fund (ETF) that is currently pending approval by the US Securities and Exchange Commission (SEC).

Regulation news

Tokenization news

  • Malta-based blockchain sports venture Chiliz, which is involved with European football, will invest USD 50m in an expansion to the United States, Reuters said, CEO Alexandre Dreyfus. He said his company is now opening an office in the US as they target the country’s top sports franchises, in order to launch Fan Tokens with leading franchises from the five major US sports leagues. Chiliz are also in talks with Formula One and e-sports teams, Dreyfus added.

Exchanges news

  • Binance said it has made an unspecified strategic investment in Multicoin Capital, making the exchange a limited partner in the crypto-focused hedge fund. Other limited partners of the fund include Ribbit Capital, Union Square Ventures, as well as individuals including Marc Andreessen, a founding managing partner at Andreessen Horowitz, and David Sacks, the founder of Craft Ventures and the first chief operating officer of PayPal.
  • Sam Bankman-Fried, CEO of the FTX exchange and its parent company Alameda Research, announced that the platform’s users can now use PayPal to top up their trading accounts. Per his tweet, users can get “instant” fiat deposits on their FTX accounts, as well as deposit “more or less” any currency, while PayPal converts it for the users.

Mining news

  • The South China Morning Post reported that graphics card prices in Huaqiangbei, the world’s biggest electronics market, are “changing along with BTC” rates, adding that price volatility is “pushing vendors to demand same-day purchases” of a “dwindling” supply of units. The media outlet quoted an unnamed vendor at the market as stating: “Please keep a close eye on bitcoin prices, then you can get the price trend of graphics cards.” Vendors also said that foreign buyers were increasingly contacting them online with offers for GPUs.
  • Listed Bitcoin miner Bitfarms said it agreed to acquire 48,000 new miners from MicroBT to increase hashing capacity by approximately 5.0 EH. The company anticipates the initial shipment of miners to take place on or before January 2022.

Blockchain news

  • The crypto-blockchain-manga relationship is continuing to deepen in Japan, with the manga publishing giant Shueisha, the force behind the Shonen Jump magazine and the wildly popular One Piece series, launching a blockchain platform. The platform, the company stated, would allow artists to buy and sell original artwork created for One Piece and other best-selling titles, with all works issued with a tamper-proof, blockchain-powered certificate of authenticity. The firm claimed that the certificates would “continue to guarantee a work’s authenticity even after it had left the artist’s hands.”

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By: Sead Fadilpašić

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