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Crypto Corner Podcast 633: Stocks discussed: (NYSE: BAC) (NasdaqGS: PYPL) (NYSE: SQ) (TSXV: CSTR)

Bank of America Approves Limited Bitcoin Futures Trading, PayPal Increases Crypto Purchase Limit, Square Creating Bitcoin-Focused Platform, and CryptoStar Announces Equipment Hosting Agreement

 

Point Roberts, WA and Delta, BC - July 16, 2021 (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.

Listen to today's Crypto Corner Podcast:

https://www.investorideas.com/Audio/Podcasts/2021/071621-CryptoMarket.mp3

Crypto Corner Podcast 633: Stocks discussed: (NYSE: BAC) (NasdaqGS: PYPL) (NYSE: SQ) (TSXV: CSTR)

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Stocks discussed: (NYSE:BAC) (NasdaqGS:PYPL) (NYSE:SQ) (TSXV:CSTR)

CoinDesk reports that the U.S.'s second-largest bank, Bank of America (NYSE:BAC), has approved Bitcoin (BTC) futures trading for some clients, according to two anonymous sources "with knowledge of the matter." An excerpt from the article reads:

Like most institutions, the bank has been conservative in its approach to the crypto sector, but due to the large amount of margin required to trade the futures, it is now allowing some clients to access the crypto market, one of the sources said. Some clients are setting up to trade bitcoin futures, which are cash settled, and one or two may have already gone live, the other source said.

CNBC reports that PayPal (NasdaqGS:PYPL) has increased the amount of cryptocurrency users can purchase to $100,000 USD, a 5x increase. The company's $50,000 annual limit has also been discarded. Jose Fernandez da Ponte, PayPal's vice president and of blockchain, crypto and digital currencies, said:

"These changes will enable our customers to have more choice and flexibility in purchasing cryptocurrency on our platform."

Square, Inc. (NYSE:SQ) is creating a new Bitcoin-focused platform for financial services, according to a series of tweets from CEO Jack Dorsey yesterday. Dorsey tweeted:

Square is creating a new business (joining Seller, Cash App, & Tidal) focused on building an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services. Our primary focus is #Bitcoin. Its name is TBD.

Like our new #Bitcoin hardware wallet, we're going to do this completely in the open. Open roadmap, open development, and open source.

CryptoStar Corp. (TSXV:CSTR) has executed an equipment hosting agreement with an unnamed U.S. based company effective July 14, 2021 for up to 8 MW of mining capacity at its data centre facility in Utah, USA. The company also "plans to continue to further expand its data centre operations in Alberta, Canada by partnering with large cryptocurrency miners seeking operating locations in North America." CryptoStar President and CEO, David Jellins, said:

"We are seeing unprecedented levels of demand for power from international mining organizations, and we are looking forward to taking full advantage of our power supply agreement in Alberta, Canada at amongst the lowest power rates available in North America."

Sam Mowers, Investorideas

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