Circle Acts Like PayPal, Bans Bank Accounts and Freezes Payments
Users of Circle Inc., the Boston-based bitcoin startup, have been disputing with the company regarding payment verifications and banning of bank accounts. According to its users, Circle has started to hold payments for several days and ban accounts, in the tradition of Paypal. Circle states on its website that it "believes that sending and receiving money should be instant and free." Ironically, the startup has made it incredibly difficult to send payments and is creating a centralized payment infrastructure on top of the bitcoin, which negates the decentralized benefit of the....
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As if everything to do with money is not bad enough, Greeks no longer have access to their PayPal accounts, reports Quartz. Capital controls imposed by the Greek government mean that Greek citizens can only withdraw 60 euros (effectively 50 euros after ATMs have run out of 20 euro notes) and online payment service, PayPal, has been left crippled, as a result. PayPal relies on the traditional banking sector and credit card industry for all its transactions to flow. Announced by a PayPal spokesman today: Due to the recent decisions of the Greek authorities on capital controls, funding of....
An exciting partnership between Barclays and Bitcoin exchange Circle could lead to a slew of new features and innovations in the digital payment industry. Moreover, this is very positive news for Bitcoin as well, as the European bank is letting Circle use their existing infrastructure to provide real-time conversion from GBP and EUR to Bitcoin, and vice versa. Circle – A New Era Of Bitcoin and Banking? Up until this point, very few banks have been keen on the concept of Bitcoin, although they all seem to see high value in the underpinning blockchain technology. In fact, consumers have had....
The CEO tweeted a screenshot of an apparent $100 purchase of Bitcoin using the service well ahead of its official rollout date. There has been significant excitement in the industry since PayPal last week announced its intention to enter the cryptocurrency market. The rollout of its new crypto services — enabling both crypto payments and direct, in-app purchases of crypto — has been officially set for early 2021.Yet on Oct. 28, the co-founder and CEO of crypto payments firm Circle, Jeremy Allaire, claimed to have used the PayPal app to buy $100 worth of Bitcoin (BTC), tweeting a screenshot....
Garrett Cassidy joins Circle. Garrett Cassidy, the FinTech leader and former Bank of Ireland director is to join Circle, it has been announced that he will be heading up their European operations. Circle is one of the most important, developing, companies in the cryptocoin world and the addition of someone of the caliber of Garret Cassidy to their team has to be seen as a recruiting coup. Cassidy was previously employed as Head of Markets, Commercial Lending and Payments Development for Bank of Ireland, he was based in London. In a recent interview with CoinDesk, Circle has also promised....
Yet another PayPal horror story... Running an email service is neither easy nor cheap, especially when it's designed to thwart mass surveillance. ProtonMail is a free, end-to-end encrypted email provider based in Switzerland (away from the NSA) and strives to protect its users in an age where privacy has become a commodity. In order to keep its services free, ProtonMail will offer premium accounts to cover the costs of the free accounts, and the team recently launched a fundraising campaign to support the addition of new features. However, after raising nearly $300,000, PayPal surprised....