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


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

You can read the Digest here:

  • PayPal (NASDAQ) now allows crypto transfers to other wallets.
  • Citadel Securities and Virtu are building a cryptocurrency trading platform.
  • Binance.US introduces crypto staking products for users.
  • Solana Foundation promises $100 million support for Web 3.0 projects South Korea.
  • Chainlink updates staking roadmap – LINK surges to 4-week high.

PayPal finally allows users to transfer crypto to external wallets

PayPal announced today that it will allow users to transfer digital assets from its platform to other wallets or 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.

PayPal users can transfer cryptocurrency supported by this feature with no fees nor network charges. For sending crypto to other blockchain networks, however, users will have to pay fees.

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”.

What You Need to Care About

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

Citadel Securities and Virtu are building a Crypto Trading Environment with Virtu

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

According to information insiders, among the investors behind this project are Paradigm Venture Capital and Sequoia Capital. There is also a host of other wealth managers, market-makers, retail brokerages, and wealth managers.

Further, it was stated that Fidelity Investments had been involved in the development of a crypto-offering. Charles Schwab (NYSE:) 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 (NASDAQ:), executives supported Canonical crypto VC Fund Canonical.

What You Need to Care About

To provide faster access to liquidity deep enough to support digital assets, the crypto ecosystem will be more efficient.

Binance.US Introduces Crypto Staking Products 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. The platform will allow users to stake crypto and earn rewards.

Binance.US’s new staking products include seven Proof of Stake (PoS), Solana, (SOL), Avalanche(AVAX), Cosmos [ATOM], The Graph (GRT), Livepeer/LPT and Audius.

Binance.US will allow customers to automatically retake their rewards on a week basis. It ensures high APY via compounding.

To earn an annual percentage return (APY), of up to 18.5%, Binance.US users will be able to stake the seven tokens. It is currently the most competitive rate among U.S. cryptocurrency firms. Binance revealed further that integrations will be made for PoS cryptos shortly.


  • U.S. Securities and Exchange Commission. Binance Holdings is being investigatedWhen it launched its BNB token, 2017, the company broke all securities regulations

What You Need to Care About

Binance.US’s new product allows them to compete against Coinbase.

Solana Foundation pledges $100 million to support web 3.0 projects in South Korea

Solana Ventures has announced that the Solana Foundation will invest $100 Million in South Korea’s growth of decentralized finance projects (DeFi), virtual gaming and nonfungible tokens.

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.

The Solana Foundation pledged part of its investment in the South Korean market as a way to preserve Terra-based projects.


  • South Korean law may prevent companies from launching blockchain-based games. It prohibits the games offering monetary rewards (crypto included).

What You Need to Care About

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.

Our goals are:

  • Chainlink and Oracle services are more secure.
  • Participate in your community
  • Staking can bring you long-term rewards that will last.
  • Allow node operators with the ability to stake higher-value jobs by empowering them

Chainlink (LINK), which saw a 12% increase, soared to an $8.86 daily high on Wednesday, June 7, a record that was last reached on May 10, 2018. 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.

Chainlink’s 24 Hour Price Chart (LINK). Source: CoinMarketCap


  • Chainlink intends to launch its Oracles on Solana’s blockchain later in the month.

What You Need to Care About

Chainlink (LINK), a passive income opportunity through staking is attempting to increase its usage, which could lead it to go even higher.

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