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It has been an eventful week to say the least – big merges, controversial bans, and much more is on the agenda today. We also talk about the struggling dollar and one of the biggest cryptocurrency heists ever.
VMWare is looking into buying Dell in a historic reversed merge that could break the last record of the largest tech deal in history. In 2016, Dell bought EMC and 80% of VMWare for $67 billion, setting the record for the biggest deal ever. Now that deal could be reversed for an even bigger payment.
PayPal dropped 10% after eBay announced that they would switch main payment provider. eBay’s new favored payment method is Adyena and even though PayPal is still available the number of transactions will decrease. However, even after a 10% drop PayPal comes out on top and is still more than double the value compared to the same time last year.
Facebook bans cryptocurrencies in a controversial update of their policies. According to the company, the ban is aimed at lowering the number of financial scam ads on the social media platform, but now everyone is convinced. Rumors are now circulating that Facebook is planning on launching their own ICO.
Robinhood launches a trading app for cryptocurrencies without any fees. The well-established stock broker app with over 3 million customers has the potential to change the market. Only days after the announcement, more than 1 million people had already signed up showing their interest in the new crypto app.
The dollar has experienced its worst January in over three decades, despite the fact that the American economy is doing great. What’s even worse is that neither Treasury Secretary Mnuchin or President Trump seem to know how to handle the situation.
CoinCheck was hacked and over $500 billion dollars worth of NEM was stolen. The hack is one of the biggest in history and it has raised questions about the security of the industry. CoinCheck has promised to repay the affected clients most of the lost assets.
Bitcoin dropped under $10,000 for the first time in several weeks and it dragged the rest of the market down with it. Unfortunately, it’s now looking like February could be a slow month for the cryptocurrency market.
Remember to stay up to date with the latest news from the finance world right here on BullMarketz. Visit us daily to not miss a beat and don’t forget to check out our cryptocurrency news and our weekly segment called Let’s Talk Cryptocurrencies, for more information about the world’s digital currencies.