The cryptocurrency sphere is bustling today. Crypto news regarding Poloniex is causing a stir. The exchange will now accepts credit cards and bank accounts. Elsewhere, prominent crypto-advocates the Winklevoss twins, along with their Gemini exchange, might be buddying up with Facebook’s Libra.
Let’s check this out.
Crypto News Making Moves
Major cryptocurrency exchange Poloniex has announced that customers can now use credit cards and bank accounts on the platform. It announced the move in a Medium post published yesterday.
The release states that users from over 80 countries can now move funds directly to and from their bank accounts into the exchange. Once the fiat currency hits the exchange, it will be converted into the USD stablecoin.
The platform has set weekly limits of $50,000 for deposits and $25,000 for withdrawals. However, it is willing to potentially increase those limits on a case by case basis.
Where credit and debit cards are concerned, over 60 jurisdictions will be able to purchase crypto using the cards. This is made possible through a partnership with payment processor Simplex.
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The service will charge a 3.5% fee and allow users to buy a minimum of $50 of Bitcoin.
Crypto News Bulletin 2
The co-founders of New York-based crypto exchange Gemini are reportedly in talks to join Facebook’s Libra Association.
The Libra Association is a consortium of businesses that aim to govern Facebook’s new cryptocurrency.
Tyler and Cameron Winklevoss told CoinDesk earlier in the week:
“We’re definitely looking at it in earnest and we’re excited about the project.”
>> Facebook’s Digital Coin Libra Faces Extreme Criticism
The pair furthered:
“Our feeling is, this is the first of many FANG [Facebook, Amazon, Netflix and Google] companies to have a token project. Our prediction is in the next 24 months almost every FANG company will have a coin or be working on some sort of project.”
Will the twins join with Libra? It may seem unlikely considering the pair’s checkered history with Facebook CEO Mark Zuckerberg.
The former Harvard classmates of Zuckerberg had a controversial fight over control of Facebook back in the early 2000s.
However, it seems, the mutual goal of promoting mainstream crypto adoption has healed any old wounds.
What are your thoughts on this crypto news? Are you surprised about the Winklevoss twins?
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