PayPal Coin Confirmed to be in the Works, Stablecoin Code in iOS App

PayPal stablecoin called PayPal Coin in works. Image of PayPall cryptocurrency transaction.

Multinational fintech company PayPal has expressed interest in “exploring” the possibility of launching its very own stablecoin, according to reports. The admission follows developer Steve Moser’s discovery of references to something called “PayPal Coin” within the PayPal iOS app. It even features PayPal’s logo. Now colloquially called “PayPal Coin”, it appears to be a stablecoin. Stablecoins are cryptocurrency the value of which can be pegged to the value of reserve assets such as gold. Stablecoins have become increasingly popular as they make for easier transfers between exchanges and crypto. As of now, PayPal’s plans to launch their own stablecoin appear to be at a very nascent stage.

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Shiba Inu Listed for Trading on Cryptocurrency Exchange Site Bitstamp

Bitstamp, a global cryptocurrency exchange platform, will soon permit its users to trade Euros and USD for the meme coin Shiba Inu. This decision is especially notable as it reinforces the growing trend of Shiba Inu’s acceptance on a global scale, with Bitstamp adding to the growing list of companies that have begun to accept the dog-themed meme coin Shiba Inu, which was initially launched as a mocking imitation of Dogecoin. Bitstamp users will now be permitted to withdraw and deposit their assets in the meme coin Shiba Inu. As of now, the trading rate of SHIB is $0.00003672/token, which is owned by 1,044,066 wallets, according to data from CoinMarketCap.

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DeFi Growth Causes Avalanche to Overtake Dogecoin and Shiba Inu

While the general market for cryptocurrency has been exhibiting bearish tendency over the last couple of weeks, Avalanche (AVAX), which is one of the best performing cryptocurrencies of 2021, has finally made its first appearance in the top ten list. AVAX has excelled in performance over the last seven days. In terms of value, it has added over 38%, with a new all time high of $144 a couple of days ago. It surpassed the market cap of Dogecoin.

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Tim Cook, CEO of Apple, Confirms Owning Bitcoin

During an interview at the DealBook conference on 9th November, Tim Cook, CEO of tech giant Apple, in response to a question on the matter insinuated that he himself has invested in Bitcoin.

Cook, when questioned whether he owned any cryptocurrency, replied with, “I do. I think it’s reasonable to own it as part of a diversified portfolio”. He further added, “I’m not giving anyone investment advice by the way.”

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Cryptocurrency: The Cause Behind Shiba Inu’s Sudden Rise

Ever since billionaire Elon Musk proclaimed his support for Dogecoin a few months ago, the meme coin has seen a steady rise in the mainstream cryptocurrency market, reaching record highs. The coin was initially launched as a practical joke in response to Bitcoin’s popularity in 2013. The immense success of Dogecoin led to the rise in popularity of another meme coin inspired by the same Japanese dog breed, Shiba Inu, or “Dogecoin killer”, as its creators call it.

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Over $500,000 Stolen by Scammers Phishing via Google Ads

According to reports from security analysts at Check Point Research, more than $500,000 has been stolen by scammers over the course of just a few days during the weekend. The scammers carry out this particular scam by using Google Ads to redirect victims to their phishing websites.

It has been reported that since the Google Ads that are boosted to the top of the page, above search results, these fake websites that mimic the real websites are the first sites that users see. These websites resemble the actual page as closely as possible, and even have their URLs to resemble the legitimate websites as closely as possible to trick users into falling prey to this phishing scam, according to reports from Check Point Research. These phishing websites resemble the official webpages of the wallet websites, such as MetaMask or Phantom App, going as far as to even replicate the appearance of crypto exchanges like Pancake Swap.

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Six Crypto Coins See 2,745.72% Increase in 24 hours

Despite facing some setbacks on Monday, November 1st, the major crypto coins made a quick recovery, with Bitcoin going up 2.30% the following day, amounting to $62,196.16 per unit. Following Bitcoin, Ether, which ranks second in the crypto market, went up as high as $4,343.31 per unit, and grew by 2.32% during the day. The crypto market saw a sharp growth over the past few weeks, with Shiba Inu, the meme-coin, rising to the ninth rank among the global most traded crypto coins, as reported by CoinMarketCap on Monday. The crypto coin grew by 160% in the last week. As of the latest, it was trading at $0.00007078, with a 10.09% growth over the past 24 hours.

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