{"id":95592,"date":"2020-10-23T02:24:25","date_gmt":"2020-10-22T23:24:25","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/paypal-rumored-to-be-eying-acquisition-of-crypto-custodian-bitgo\/"},"modified":"2020-10-23T02:24:25","modified_gmt":"2020-10-22T23:24:25","slug":"paypal-rumored-to-be-eying-acquisition-of-crypto-custodian-bitgo","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/paypal-rumored-to-be-eying-acquisition-of-crypto-custodian-bitgo\/","title":{"rendered":"# PayPal rumored to be eying acquisition of crypto custodian BitGo"},"content":{"rendered":"<p>&#8220;<strong># PayPal rumored to be eying acquisition of crypto custodian BitGo <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5ldS1jZW50cmFsLTEuYW1hem9uYXdzLmNvbS9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjAtMTAvNjA1MDU2YTQtMzdjZC00ZDdkLWFjZDAtYTkyMTFiNWQ2YzYyLmpwZw==.jpg\" \/><\/p>\n<div data-v-5a136f3a=\"\">Global payments firm PayPal is looking to acquire a crypto asset custody firm, with a report published by Bloomberg on Oct. 23 <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-10-22\/paypal-said-to-be-in-talks-to-buy-crypto-firms-including-bitgo\">claiming<\/a> the company is currently in talks with BitGo Inc.<\/p>\n<p>Anonymous sources cited in the report claimed that the two companies may reach an agreement within a matter of weeks. BitGo is a multi-signature custodian that was founded in 2013. In 2018 the company raised $15 million in a round led by Goldman Sachs and Galaxy Digital.<\/p>\n<p>However, the deal is believed to be far from certain, with the report noting that: \u201cTalks could still fall apart and PayPal could opt to buy other targets.\u201d<\/p>\n<p>The rumors follow this week\u2019s announcement that PayPal will be launching crypto payment services from next year, which was the catalyst for a quick double-digit percentage price push for Bitcoin (BTC).<\/p>\n<p>Not everyone is overjoyed with PayPal\u2019s potential acquisition, with the official account of Thorchain (RUNE) expressing concerns about the decentralization of Wr<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ed Bitcoin (WBTC), given most of the Bitcoin (BTC) locked in the protocol are stored with BitGo.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">There goes wBTC.<\/p>\n<p>The majority of wrapped Bitcoin is custodied by BitGo.<\/p>\n<p>PayPal is not a good actor in this space. Position accordingly. <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/t.co\/bETSfDr88J\">https:\/\/t.co\/bETSfDr88J<\/a><\/p>\n<p>\u2014 THORChain \u26a1\ufe0f(\u16b1) (@thorchain_org) <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/thorchain_org\/status\/1319402683015458817?ref_src=twsrc%5Etfw\">October 22, 2020<\/a><\/p><\/blockquote>\n<p>Yesterday, Meltem Demirors, the CSO of crypto asset manager CoinShares, predicted that PayPal will seek to launch a stablecoin after the payments company <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/article\/us-facebook-cryptocurrency-paypal-idUSKBN1WJ2CY#:~:text=PayPal%20becomes%20first%20member%20to%20exit%20Facebook's%20Libra%20Association,-By%20Reuters%20Staff&amp;text=WASHINGTON%20(Reuters)%20%2D%20U.S.%20payments,member%20to%20exit%20the%20group.\">left<\/a> the governance association for <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Facebook<\/a>\u2019s Libra project.\u00a0<\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener noreferrer\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/paypal-rumored-to-be-eying-acquisition-of-crypto-custodian-bitgo\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# PayPal rumored to be eying acquisition of crypto custodian BitGo &#8221; Global payments firm PayPal is looking to acquire a crypto asset custody firm, with a report published by Bloomberg on Oct. 23 claiming the company is currently in talks with BitGo Inc. Anonymous sources cited in the report claimed that the two companies&#8230;<\/p>\n","protected":false},"author":1,"featured_media":95593,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.eu-central-1.amazonaws.com\/s3.cointelegraph.com\/uploads\/2020-10\/605056a4-37cd-4d7d-acd0-a9211b5d6c62.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[76825,74863,76574,117],"class_list":["post-95592","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitgo","tag-cryptocurrencies","tag-paypal","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/95592","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=95592"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/95592\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/95593"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=95592"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=95592"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=95592"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}