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Crypto Corner Podcast #495: Stocks discussed: (NasdaqGS: $PYPL) (TSXV: $HIVE.V) (OTCQB: $INTV)

PayPal Drops Plans to Acquire BitGo, HIVE Reports Corporate Update, and XRP Drops Due to Delistings Fuelled by SEC Lawsuit

 

Point Roberts, WA and Delta, BC - December 24, 2020 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news brings you today's edition of the Crypto Corner podcast and commentary on what's driving cryptocurrency stocks and the crypto market.  Today's podcast was sponsored by Integrated Ventures (OTCQB: INTV) , a company focused on acquiring, launching and operating assets in the cryptocurrency sector.

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https://www.investorideas.com/Audio/Podcasts/2020/1224120-CryptoMarket.mp3

Crypto Corner Podcast #495: Stocks discussed: (NasdaqGS: $PYPL) (TSXV: $HIVE.V) (OTCQB: $INTV)

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Crypto Corner Episode 495: Stocks discussed: (NasdaqGS:PYPL) (TSXV:HIVE)

Bitcoin (BTC) is holding fairly steady, having fluctuated between about $23,000 and $23,500 in the past 24 hours, and trading for $23,340 at press time, according to data from CoinMarketCap.

Fortune reports that PayPal (NasdaqGS:PYPL) has dropped plans of acquiring crypto exchange BitGo. The firm itself did not confirm this, but "a person close to" PayPal said "the BitGo talks had fallen through, adding that PayPal is exploring other potential acquisitions." Meanwhile BitGo CEO Mike Belshe told Fortune that "his company now holds over $16 billion worth of cryptocurrency assets," and that it has benefited from the current bull market. Belshe said that BitGo was in growth mode and that it had a very healthy balance sheet.

HIVE Blockchain Technologies Ltd. (TSXV:HIVE) has shared a corporate update, indicating among other things, that from October 1 to December 21, 2020, it mined more than 19,000 Ether (ETH) and 140 Bitcoin on the cloud. This represents a decrease from the approximately 32,800 Ethereum mined in HIVE's second fiscal quarter ended September 30, 2020. On the other hand, the results indicate an increase in the number of Bitcoin mined in the third quarter, up from the 88 mined in Q2. Frank Holmes, Interim Executive Chairman of HIVE, commented on the company's energy agreements in Sweden:

We're pleased to, for the second year in a row, have locked in advantageous electricity prices in Sweden through our direct agreements with local suppliers, the result of HIVE assuming full control of its Sweden operations in November 2019. This continues to provide cost certainty and allows us to plan for our next stage of growth. It is another successful step in our efforts to increase our underlying mining profitability in 2021."

Cointelegraph reported a 24 percent price drop for XRP in the space of one day as multiple exchanges have delisted the cryptocurrency. The delistings are a reaction to news that the United States Securities and Exchange Commission (SEC) is suing Ripple for "paying money to exchanges to permit the "buying and selling of XRP" on their platforms." According to the report, Ripple CEO Brad Garlinghouse said he would "aggressively fight" and "prove our case" against the SEC, indicating that he declined the option to individually settle with the SEC.

Sam Mowers, Investorideas

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Crypto Corner Podcast sponsor

Integrated Ventures (OTCQB: INTV) is focused on acquiring, launching and operating assets in the cryptocurrency sector.

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