Aug 16, 2023

“CoinDesk Daily” host Jennifer Sanasie dives into today’s hottest stories in crypto, as Coinbase says it can list crypto futures in the U.S. Hardware wallet maker Ledger partners with payments giant PayPal to allow users to buy crypto with fiat currency through their PayPal accounts.

Video transcript

Paypal has got a new crypto partnership and coin base. Not just a win. Welcome to Coin Desk Daily. I'm your host, Jenna Coin Base can now list crypto futures in the United States. It has secured approval from the National Futures Association to operate a futures commission merchant. Nearly two years after applying the exchange says it is now the first crypto focused platform in the US to offer regulated and leveraged crypto futures alongside traditional spot trading coin shares on the NASDAQ opened up over 4% on the news. Paypal is making another move into crypto. It is partnering with hardware wallet maker Ledger Ledger live app. Users will now be able to link their paypal account without any extra verification. In a statement Ledger Ceo Pascal Gauthier said quote, we're combining the uncompromising security of Ledger with paypal's leadership and protected payments technology to help facilitate a seamless platform for user crypto transactions. Crypto custodian bit go has raised $100 million at a valuation of $1.75 billion. The race comes nearly two months after bit go ended its plan to buy troubled rival Prime Trust which filed for bankruptcy earlier this week bit go did not immediately respond to coin desks request for comment. And the coin desk, Bitcoin price XX index briefly slipped below the $29,000 level earlier today and is currently at around $29,100. The price hasn't surpassed the $30,000 level since July. So will this continue? Let's take a look at this chart from fair lead strategies. It shows the ratio of Bitcoin to either hovering near a trend line resistance, characterizing the corrective phase. Since June, in a note to clients fairly said, quote, a breakout above the trend line would suggest the long term uptrend is resuming in favor of Bitcoin. However, the 50 day moving average has flattened. So we would not be surprised to see resistance stay intact for the time being. That's a wrap for Coindesk daily, get more updates on coindesk dot com and we'll see you next time.

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