Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Crypto Flipsider News – Paypal Crypto Transfers’ Citadel’s Crypto Ecosystem; Binance.US Staking; Solana’s $100M Fund; Chainlink Updates Its Roadmap

Cryptocurrency Jun 08, 2022 11:00AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
Crypto Flipsider News – Paypal Crypto Transfers’ Citadel’s Crypto Ecosystem; Binance.US Staking; Solana’s $100M Fund; Chainlink Updates Its Roadmap

Read in the Digest:

  • PayPal (NASDAQ:PYPL) finally allows users to transfer crypto to external wallets.
  • Citadel Securities is building a crypto trading ecosystem with Virtu.
  • Binance.US launches crypto staking product for Solana and Avalanche users.
  • Solana Foundation pledges $100 million to support Web 3.0 projects in South Korea.
  • Chainlink updates staking roadmap – LINK surges to 4-week high.

PayPal Finally Allows Users to Transfer Crypto to External Wallets

PayPal has announced that users can now transfer their digital assets from the platform to external wallets and exchanges. The announcement comes nearly two years after PayPal’s first involvement with cryptocurrencies.

Paypal’s Jose Fernandez da Ponte revealed that the feature was the most demanded by users.

The feature now enables PayPal users to transfer supported crypto with no fees or network charges. However, they will be charged fees when sending crypto to external blockchain networks.

The feature was initially launched for select U.S. users starting on Tuesday, June 7th, however, Paypal revealed that the feature will be rolled out to all eligible U.S. customers ‘in the coming weeks.’


  • The feature’s announcement comes swiftly after PayPal Holdings converted its New York Department of Financial Services approved conditional virtual currency license into a full-fledged “BitLicense”.

Why You Should Care

The move makes PayPal the world’s largest blockchain-enabled consumer digital wallet, with over 429 million accounts.

Citadel Securities is Building a Crypto Trading Ecosystem with Virtu

Citadel Securities and Virtu Financial (NASDAQ:VIRT) Inc. are partnering to build a cryptocurrency trading “ecosystem” that will enable retail brokerages to offer crypto-executions to customers.

According to insider information, the assortment of backers behind the project includes venture capital firms Sequoia Capital and Paradigm, as well as a number of other wealth managers, market makers, and retail brokerages.

It was further stated that the firms were developing a crypto offering in association from Fidelity Investments and Charles Schwab (NYSE:SCHW) Corp in order to widen venture capitalists’ access to digital assets.

In a statement, Schwab noted that they will “consider introducing direct access to cryptocurrencies when there is further regulatory clarity.” Reports claim that the product, which is still in its early development phase, could be available later this year, or in early 2023.


  • A16z and Coinbase (NASDAQ:COIN) executives have shown their support for new crypto VC fund Canonical.

Why You Should Care

The crypto ecosystem aims to provide more efficient access to deep pools of liquidity for digital assets.

Binance.US Launches Crypto Staking Product for Solana and Avalanche Users

Binance.US, the American branch of the world’s largest cryptocurrency exchange by market cap, has launched a new high-yield staking service. Users will now be able to earn rewards by staking crypto on the platform.

The new staking product offered by Binance.US features seven Proof of Stake (PoS) tokens: Binance Coin (BNB), Solana (SOL), Avalanche (AVAX), Cosmos (ATOM), The Graph (GRT), Livepeer (LPT), and Audius (AUDIO).

Binance.US staking will enable customers to automatically re-stake the rewards received on a weekly basis, ensuring high APY through compounding.

Binance.US users can now stake these seven tokens to earn an annual percentage yield (APY) of up to 18%, the highest rate among U.S. crypto firms. Binance further revealed that it plans to add integrations for other PoS cryptos soon.


  • The U.S. Securities and Exchange Commission (SEC) is investigating whether Binance Holdings broke securities rules when launching its BNB token in 2017.

Why You Should Care

The new product will allow Binance.US to compete against the competitive returns and usability of Coinbase and Gemini.

Solana Foundation Pledges $100 Million to Support Web 3.0 Projects in South Korea

Solana Ventures and the Solana Foundation have outlined plans to invest $100 million into the growth of nonfungible token (NFT), virtual gaming, and decentralized finance (DeFi) projects in South Korea.

The fund will be backed by capital from the Solana community treasury, along with the venture arm’s pool of capital. The $100 million fund will be allocated as investments and grants “across all Web 3.0 verticals.”

With a good portion of South Korea’s gaming industry moving into the Web 3.0 space, Solana is positioning to play a major role in its development. Notably, Solana has gone on record as placing particular emphasis on the development of South Korea’s gaming sector.

In part of its move the into South Korean market, which is still reeling from the crash of Terra, the Solana Foundation has pledged a portion of the funds towards the preservation of some Terra-based projects.


  • Companies wanting to launch blockchain-based games could face hinderances from South Korean law, which forbids games from providing monetary rewards, crypto included.

Why You Should Care

Solana believes that launching “high-quality and fun games” on the Solana blockchain in the second half of 2022 can help alter South Korea’s perception of P2E games.

Chainlink Updates Staking Roadmap – LINK Surges to 4-Week High

Chainlink’s native token (LINK) has been one of today’s top-performing crypto, gaining 12% in value after the Chainlink Team announced the launch of a staking feature in the second half of 2022.

On June 7th, 2022, the Chainlink team published documentation titled “Long-Term Goals, Roadmap, and Initial Implementation,” outlining the project’s four goals and further development stages.

The goals are to:

  • Increase the security and user assurances of Chainlink oracle services.
  • Encourage community participation.
  • Generate sustainable rewards for long-term use of staking.
  • Empower node operators to access higher-value jobs through staking.
The 12% surge saw Chainlink (LINK) soar to a daily high of $8.86 on Wednesday, June 7th, a level last seen on May 10th. LINK now trades at $8.47 at the time of writing, maintaining gains of 10.5% – the highest among the top 40 cryptos ranked by market cap.

The 24 hour price chart for Chainlink (LINK). Source: CoinMarketCap


  • Later this month, Chainlink plans to launch its oracles on the Solana blockchain.

Why You Should Care

By creating passive income opportunities via staking, Chainlink (LINK) is aiming to see increased usage that could drive its price even higher.

Continue reading on DailyCoin

Crypto Flipsider News – Paypal Crypto Transfers’ Citadel’s Crypto Ecosystem; Binance.US Staking; Solana’s $100M Fund; Chainlink Updates Its Roadmap

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
Sign up with Email