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could be related to paypal adding crypto trading services recently...

• ur-whale 6y ago
  The thing with paypal ... they do not really allow you to buy Bitcoin (you neither can deposit nor withdraw actual Bitcoin from your paypal account) What they sell is a security pegged on Bitcoin. However, that means they have strictly no need to actually own the underlying. They're just playing the bookmaker game without ever having to payout. It's therefore unclear that this affects the BTC markets at all.
  • jules-jules 6y ago
    Nonsense. Paxos is buying crypto on behalf of PayPal's customers. Transfers and purchases will be enabled in the coming months.
    • ur-whale 6y ago
      Can you point me to a cryptographically signed proof of reserve from either paypal or paxos? Talk is cheap, and actually - in their case - lucrative. Not your keys, not your coins.
      • jules-jules 6y ago
        yeah I'm sure Paypal and/or Paxos put their rep on the line by lying to their customers' faces. >Technology: Paxos Crypto Brokerage provides crypto custody and trading for PayPal. Our APIs allow PayPal to offer crypto services seamlessly within the PayPal app with its simple and intuitive user experience. https://www.paxos.com/paypal-paxos-bring-crypto-to-millions-of-users/ https://www.paxos.com/paypal-paxos-bring-crypto-to-millions-...