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Chaos Labs said that it will use these funds to boost the security of the DeFi protocols through its services like capital efficiency and risk optimization, streamlined risk assessments, spend optimizations, and much more. Despite these tumultuous times in the market, crypto firms continue to secure fresh funding. On Tuesday,
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Payments giant PayPal and investment management firm Galaxy joined hands to raise $20 million in seed funding for Chaos Labs, a New York-based cloud platform for securing blockchains and protocols.With an automated risk management platform, Chaos Labs protects crypto protocols against external exploits and risks. The platform does this by
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The startup offers an automatic economic security system and simulation engine for decentralized finance projects. Source
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During the first week of 2023, payment service giant Paypal said it was exploring the launch of a stablecoin. At the time, an executive at Paypal stated that if the company moved forward, it would work closely with financial regulators. However, on Feb. 10, a source noted that Paypal has
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Yesterday it was reported that PayPal crypto partner Paxos was being by the NYDFS Source
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Global payment giant PayPal holds a significant part of its financial liabilities in cryptocurrencies like Bitcoin (BTC) offered to its customers.As of Dec. 31, PayPal held a total of $604 million in various cryptocurrencies including Bitcoin, Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH), according to the annual report filed
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The payments company held $291 million of bitcoin and $250 million of ether, with the rest comprising litecoin and bitcoin cash. Original Source
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PayPal CEO has noted that the 2000 job cuts should have helped the company save $900 million last year and at least an additional $1.3 billion in 2023.PayPal Holdings Inc (NASDAQ: PYPL), through its President and CEO Dan Schulman, has announced plans to lay off 2000 global full-time employees, representing
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A host of big banks in America are collaborating on a payment wallet to facilitate debit & credit-driven online retail transactions. Several big American banks are reportedly planning a payment wallet to facilitate online shopping. These banks include Wells Fargo (NYSE: WFC), Bank of America (NYSE: BAC), JPMorgan Chase (NYSE: JPM), and four other financial institutions. According to the
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Germany’s FOC regulator stated that PayPal’s users of terms are causing a possible hindrance to its competitors which has led to an investigation.Payments giant PayPal could be in trouble as Germany’s antitrust watchdog launched an investigation into PayPal in order to examine whether the US online payment giant was using
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