#CryptoCorner Episode 453: bitFlyer Europe Integrates PayPal (NasdaqGS: $PYPL), tZero (NasdaqGM: $OSTK) Appoints Former Nasdaq EVP to Board, Bitfarms (TSXV: $BITF.V) Enters Equipment Lease and LOI with BlockFills
Point Roberts, WA, Delta BC September 21, 2020 - Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of theCrypto Corner podcast and commentary on what’s driving cryptocurrency stocks and the crypto market.
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Bitcoin (BTC) is down this morning, as we start another week. After having seemed to have secured support above $11,000 again on Saturday, it faltered somewhat on Sunday before dropping to its present trading price of about $10,600 this morning, according to data from CoinMarketCap. This downtrend roughly correlates with declines observed in stock and futures markets, a resurgence of Coronavirus concerns in European markets – which may result in a new wave of lockdowns, and an uptick in the US Dollar.
Crypto exchange bitFlyer’s European subsidiary has announced the integration of PayPal (NasdaqGS:PYPL), allowing that continent’s users to “deposit funds to the bitFlyer Europe platform to buy cryptocurrencies safely and securely.” Jacek Bastin, Business Strategy Manager at bitFlyer Europe, explained:
“The cryptocurrency space is still in its infancy, and despite the ecosystem growing, the industry is still daunting for newcomers. Given that approximately a third of European e-commerce payments are being processed through PayPal, we are more than thrilled to provide users with a deposit method they know and rely upon. The process to deposit through PayPal is entirely frictionless, secure and reliable, with users to be credited near to instantly".
tZero, the blockchain and crypto arm of Overstock (NasdaqGM:OSTK) has appointed former Executive Vice President (EVP) and Chief Marketing Officer (CMO) of Nasdaq, John Jacobs, to its Board of Directors. The Board’s Chairman, Jonathan Johnson, commented:
"I am pleased to welcome John to tZERO’s Board of Directors. John brings valuable experience in leading transformative projects in capital markets, which will play an important role in providing strategic guidance on tZERO’s growth strategy."
Bitfarms Ltd. (TSXV:BITF) has entered into an equipment lease with BlockFills for the delivery and installation of 2,000 WhatsMiner M31S miners by the end of October 2020. Additionally, Bitfarms has signed a non-binding Letter of Intent (LOI) with BlockFills, “to provide additional lease financing for approximately 7,000 more new generation miners by the end of 2020.” The latter is described in the press release as “the first electronic, off exchange, digital liquidity provider.” Emi Grodzki, Interim CEO of Bitfarms, explained:
"With the 1,850 miners purchased in June, the 1,000 miners leased in August and the latest lease of 2,000 miners, Bitfarms will have added approximately 360 PH by the end of October and we expect more capacity to be added before the end of 2020. We are thrilled to have partnered with BlockFills to seek further leased equipment in the coming months. With our existing competitively priced electricity infrastructure, we believe we are at a competitive advantage to operations that rely on hosting, and given this strategic partnership with BlockFills, we are firmly positioned to be one of the leading public crypto mining operations in North America, both in terms of computing power and profitability.”
Sam Mowers, Investorideas
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