Remember That Whole PayPal-Getting-Into-Crypto Thing? It's Real.
Plus a new fund for platforms owned by their users
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Happy Tuesday, Blockfolians
The Lede
Remember last month, CoinDesk reported that PayPal was planning to bring crypto to its 325,000,000+ users? Of course we talked about it here on the Refresh but some of you out there were Skeptical Stanleys.
Well, guess what? It’s real.
Here’s what we know:
In March, PayPal wrote to the European Commission, discussing its "unilateral and tangible steps" to involvement with crypto
The context was providing advice to the EU about how it could better address certain financial pain points
PayPal bringing bitcoin or crypto buying to this many normies would be absolutely MASSIVE for the space.
Check out the full letter here and honestly, dream a little bigger tonight fam.
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Highly Relevant Reading
An A16Z alum is launching a new fund all around platforms users can own
You knew it was coming: authorities charge coronavirus relief recipient with using funds to buy crypto
The taxpayer advocacy service says IRS crypto letters violated rights
Kingdom Trust retirement accounts to custody bitcoin via Fidelity Digital Assets
Community Commentary
There seems to be some disagreement here.
Although no disagreement that everyone has learned something…
A Really Big Number We Should Be Paying Attention To
$17 million
That’s the amount raised by crypto infrastructure provider METACO to go help central banks launch digital currencies
Final Thought
Interesting variety of answers here
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I'm a pay pal owner and i have a alot of funds on my pay pal that I'm not able to receive