Verge (XVG) has seen a 33% pump in the 24 hours following Paypal’s move to pull the plug on the adult entertainment website Pornhub. XVG — whose creators struck a deal with Pornub back in April 2018 — has skyrocketed in value since the PayPal news broke on Nov. 14, as Coin360 data shows. XVG price 7-day chart. Source: Coin360 168% increase in 24h trade volume The XVG network uses anonymity-focused networks such as Tor and I2P, as well as additional layers of encryption to bolster security. It ranks 66th largest cryptocurrency by market capitalization globally and is trading at …

Bitcoin (BTC) is being championed as the solution to a new payment crisis affecting the adult entertainment website Pornhub. In a blog post on Nov. 14, Pornhub revealed that payment processor PayPal had abruptly stopped servicing its models. Pornhub hits out at attack on “livelihoods” Previously, models throughout the world received payouts via PayPal, which has not publicly stated why it cut them out of its platform. “We are all devastated by PayPal's decision to stop payouts to over a hundred thousand performers who rely on them for their livelihoods,” the blog post reads. Pornhub is now using direct funds …

Facebook’s crypto project Libra will be more similar to email tech than payment services such as PayPal, vice president of product at Calibra said. Speaking at the Web Summit in Lisbon on Nov. 5, Kevin Weil, vice president of product at Facebook's Calibra digital wallet unit, emphasized that interoperability — the basic principle of email — will the key concept of Libra. “A journey of years and decades” Noting that any global developer or entrepreneur can build wallets for Libra, Weil encouraged the global community to collaborate on the interoperable protocols. He said: “You and me don’t have to collaborate …

Bitcoin (BTC) has transferred $11 trillion in wealth since its blockchain first went live in 2009, according to the fresh calculations. Bitcoin “going strong” at $9.6 billion per day Uploaded to social media by analyst PlanB on Oct. 24, the latest buoyant statistics for Bitcoin show the largest cryptocurrency is still beating out fiat competitors. At present, the network is processing around $9.6 billion every day. At that rate, Bitcoin passes PayPal’s annual transaction volume — $578 billion for 2018 — in just two months. PlanB used his Bitcoin full node to verify the transaction data. The numbers underscore the …

The head of Facebook's Calibra has claimed that the recent withdrawal of the seven companies from the Libra Association has no impact on the project. Dropouts will still be able to work with Libra In an interview with Yahoo Finance on Oct. 15, Calibra’s David Marcus argued that Facebook’s cryptocurrency project is “absolutely not” in jeopardy after PayPal, Visa, Mastercard, Stripe, eBay, Mercado Pago and Booking quit the Libra Association. Marcus emphasized that companies outside the formal association will still be able to offer services on the platform: “One thing that is not well understood is that you don’t need …

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week PayPal officially pulls out of the Libra Association It’s official: PayPal has left the Libra Association — the governing body of Facebook’s embattled digital currency. Although the payment processing giant says it remains supportive of the stablecoin’s aspirations, the company was absent from a meeting of 28 Libra backers on Thursday. Others may follow suit. …

Disclaimer: This article previously stated that PayPal was possibly withdrawing from the Libra Association. It has since been updated to reflect its official withdrawal. Payment processor PayPal has officially left the Libra Association, the governing body of Facebook’s Libra digital currency. Libra “Pre-work” is not enough for PayPal As news agency Financial Times reported on Oct. 3, PayPal did not attend a meeting of 28 Libra backers on Thursday. Following the payment provider’s no-show, a spokesperson for the firm told Cointelegraph on Oct. 4 that it officially left the association, adding: “We remain supportive of Libra’s aspirations and look forward …

Visa, Mastercard, PayPal and Stripe are reportedly unsure whether they wish to become paid-up participants in Facebook’s Libra digital currency. According to a Bloomberg article on Oct. 2 — citing “people familiar with the matter” — the four payment giants have reservations about the social network’s project. Sources: Facebook “oversold” regulator support The companies formed part of the cohort which originally said they wished to act as nodes for Libra, subject to a fee of $10 million. Libra has since faced a major backlash from regulators worldwide and the four now share concerns their own reputations could suffer. According to …

PayPal representatives have said they remain cautious about the future of Facebook’s planned stablecoin Libra, according to a Sept. 14 report from Agence France Press (AFP). PayPal investor relations vice president Gabrielle Rabinovitch reportedly emphasized that the firm’s membership of the Libra Association represents a “non-binding commitment," noting that: "Obviously, I think there's a lot of work to happen before we get to that point where it [Libra] becomes something more than just a very exciting idea." “Democratizing access to capital” As previously reported, the Libra Association is an independent, not-for-profit membership organization established to govern the forthcoming Libra network. …

Connecticut police caught a man who had stolen over $15,000 worth of digital currency in a mobile phone theft after he mistakenly sent an apology email to a detective heading the investigation. Back in April, a Connecticut resident fell victim to a cryptocurrency theft by New Jersey citizen Darren Carter, wherein the latter swiped the victim’s mobile phone and allegedly transferred $15,472 worth of crypto from their Coinbase account. Carter subsequently converted the funds to U.S. dollars that he transferred to his PayPal account, New Jersey-focused news outlet NJ.com reported on Sept. 2. Carter decided to apologize to the victim …

Major file sharing company BitTorrent, a subsidiary of blockchain company Tron, is going to internally test its blockchain-based live streaming platform in Q3 2019. Platform overview BitTorrent announced the news in an official blog post on Aug. 27. According to the announcement, the streaming platform — called BitTorrent Live (BLive) — supports live video content and an instant messaging service. Additionally, its underlying system reportedly contains a top user chart and a user relationship feature. BitTorrent intends to roll out BLive in alpha, beta and full versions from Q3 2019 to Q1 2020. The current alpha version features a small …

American cryptocurrency lender BlockFi has secured $18.3 million in a funding round led by Valar Ventures. The Series A funding round saw participation from a number of crypto-focused investors, including Winklevoss Capital and Galaxy Digital, according to a press release shared with Cointelegraph on Aug. 6. Other investors included ConsenSys Ventures, Akuna Capital, Avon Ventures, Susquehanna, CMT Digital, Morgan Creek and PJC. Peter Thiel’s Valar makes its first crypto investment Per the report, Valar, which led the BlockFi’s new funding round, has made its first investment in a crypto-related company. Based in New York, Valar is one of three venture …