How To Withdraw Cryptocurrency from Coinbase To PayPal
You can not withdraw your crypto — just buy, sell and now spend (but first sell).
YOU CAN NOT SEND CRYPTO ASSESTS TO FAMILY, FRIENDS
PayPal Cryptocurrencies Agreement
if you have questions or concerns regarding your crypto currencies hub, your crypto assets, our service provider(s), or related transactions or account activity, please contact paypal customer service or call: (888) 221-1161. you can also write to: paypal, attn: cryptocurrency support, p.o. box 45950, omaha, ne 68145-0950.
Over the next few weeks PayPal will be rolling out buy, sell and hold features for cryptocurrencies on its platform to U.S. users, but the service will not allow users to withdraw or deposit holdings.
https://www.coindesk.com/paypal-crypto-more-tax-work
PayPal’s Checkout will allow bitcoin (BTC), ether (ETH), bitcoin cash (BCH) and litecoin (LTC) to be seamlessly converted into U.S. dollars or other fiat currencies when making purchases, the same as credit card or a debit card would work inside a PayPal wallet, said PayPal – meaning merchants will not actually be the recipients of cryptocurrencies.
“Checkout with Crypto” include a number of important caveats. Chief among them is the tax liability: “Sales of Crypto Assets via Checkout with Crypto are taxable just like all other sales of Crypto Assets.”
PayPal will provide the consumer with a 1099 tax form and report to the U.S. Internal Revenue Service as necessary, but “it is your responsibility to determine what taxes, if any, apply to transactions you make.”
The Good and The Bad About Cryptocurrency on PayPal …
No Crypto Withdrawals, Big Fees. Firstly, PayPal will not allow crypto assets to be withdrawn to external wallets, so essentially once they’re on the platform PayPal can set whatever price it wants for users needing to convert back to fiat.
WHERE ARE THE WATCHDOGS
WHERE ARE THE REGULATORS
WHERE IS ANYONE AT ALL IN BANKING
WHERE IS FUCKING JANET YELLEN ABOUT FRAUD NOW?
WHAT ABOUT THE TIGER CUBS COLLUDING TO KEEP THIS ALL SECRET
Banks roiled by the Archegos fallout may see total losses in the range of $5 billion to $10 billion, up from previous estimates of between $2 billion & $5 billion: JPMorgan analysts said in a note, via @JPBarnert @business
If the Archegos margin call on a $10B fund can send core holdings down 50% in a week, what do you think happens during the next market wide shock when the record $800 billion in retail leverage unwinds?
Amazon made nearly $15 billion in profits last year. Yet they cut hazard pay—in the middle of a global pandemic. It’s time Amazon finally put people over profits. It’s time for a union.
Outside of the prime brokers providing leverage, few others knew Archegos held equivalent of >10% of the shares due to the ongoing loopholes in Form 13-F reporting for derivatives positions
Both total return swaps (TRS) also short options still excluded
Ex-Tiger Asia Founder Triggers $30 Billion in Large Stocks Sales
ViacomCBS and Discovery stocks fall, as ex-Tiger Asia founder Bill Hwang’s firm takes losses
https://www.wsj.com/articles/ex-tiger-asia-founder-triggers-30-billion-in-large-stocks-sales-11616973350
The Archegos Affair is still murky, but one way this could have larger, wider consequences is if every prime brokerage simultaneously tightens margin on hedge fund clients, and Archegos is just the spark for a big fat hedge fund deleveraging bonfire.
SEC Says It’s Been Monitoring Archegos Fallout Since Last Week
What BS: the SEC had no idea about Archegos until 3 hours ago
Mystery Solved: The family office of Bill Hwang was behind the unprecedented selling of some U.S. stocks Friday. Archegos Capital Management sold more than $20 billion worth of shares ranging from Chinese technology giants to U.S. media conglomerates.
CREDIT SUISSE POTENTIAL LOSS ON ARCHEGOS MAY REACH $7 BILLION EQUIVALENT TO TWO YEAR PROFIT
“Buying #Bitcoin has more upside than buying a Harvard degree.” -@pierre_rochard