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Crypto tax startup TaxBit raises $100 million in round backed by PayPal, Bill Ackman and more

Crypto tax startup TaxBit raises $100 million in round backed by PayPal, Bill Ackman and more

Utah-based crypto tax and accounting startup TaxBit has raised more than $100 million in a Series A round. First reported by Forbes, the round was led by investment companies Paradigm and Tiger Global, with participants including PayPal Ventures, Coinbase Ventures and Winklevoss Capital. The startup offers cryptocurrency tax software for crypto users, exchanges and vendors. …

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PayPal CEO says the payments giant wants to be 'the digital wallet for global CBDCs'

PayPal CEO says the payments giant wants to be ‘the digital wallet for global CBDCs’

PayPal CEO Dan Schulman said Thursday that he sees PayPal playing a significant role in the utility of central bank digital currencies (CBDCs). On the company’s investor day call, Schulman said PayPal is gearing up to be “the digital wallet for global CBDCs.” PayPal’s newly unveiled product roadmap for crypto includes becoming a CBDC platform. …

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The CFPB is looking into Venmo by requesting documents from PayPal

The CFPB is looking into Venmo by requesting documents from PayPal

The U.S. Consumer Financial Protection Bureau (CFPB) is looking into unauthorized fund transfers on social payments platform Venmo, according to documents filed with the Securities and Exchange Commission (SEC). The CFPB issued a documents request to Venmo’s parent company PayPal on Jan. 21. PayPal disclosed the request in its most recent 10-K filing with the …

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PayPal Co-Founder, DCG-Backed BTC Mining Firm Layer1 Accused of Patent Infringement

PayPal Co-Founder, DCG-Backed BTC Mining Firm Layer1 Accused of Patent Infringement

According to a recent lawsuit filed in the Western District Court of Texas, data center power management firm Lancium has accused bitcoin mining firm Layer1 of infringing upon its patented technology to adjust power usage in bitcoin mining facilities.  Backed by investors like PayPal Co-founder Peter Theil and the Digital Currency Group, CoinDesk’s parent company, …

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PayPal Picks Paxos to Supply Crypto for New Service, Sources Say

PayPal Picks Paxos to Supply Crypto for New Service, Sources Say

PayPal, the fintech giant planning to bring crypto trading to its massive user base, has chosen Paxos to handle the new service’s supply of digital assets, according to two people familiar with the matter. It’s a plum assignment for New York-based Paxos, which last week launched Paxos Crypto Brokerage and announced its first customer in …

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Feds add fintechs PayPal, Intuit to emergency coronavirus loan program

Feds add fintechs PayPal, Intuit to emergency coronavirus loan program

Fintech companies PayPal and Intuit were approved by the Small Business Administration (SBA) to distribute funds as part of the U.S. agency’s emergency lending program, enacted amid the ongoing coronavirus pandemic. PayPal and Intuit released statements on April 10, declaring their participation after the SBA’s approval, according to coverage by CNBC. The SBA plans administer …

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PayPal Evaluating Blockchain Use Cases After CEO Reveals He Owns Bitcoin (BTC)

PayPal Evaluating Blockchain Use Cases After CEO Reveals He Owns Bitcoin (BTC)

A new job listing posted by PayPal shows that the payments giant is looking for a director of anti-money laundering and blockchain strategy as the company appears to be exploring how it can harness the power of the emerging technology. The team member will be tasked with evaluating blockchain use cases on top of preventing financial …

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