Binance stops trading crypto derivatives in Europe, and PayPal announced the launch of its own cryptocurrency wallet

The world’s largest cryptocurrency exchange by trading volume, Binance, announced that it will stop trading crypto derivatives in Europe. The first countries for which this opportunity is no longer available are the Netherlands, Germany, and Italy. Their residents can no longer open new accounts to trade futures or derivative products.

Binance promised later to announce the date after which users from Europe will have 90 days to close futures and derivative positions.

On July 27 Binance announced a decrease in the daily bitcoin withdrawal limit for users who have passed the standard verification. Such users will be able to withdraw no more than 0.06 bitcoins per day. Previously, this limit was 2 bitcoins. Exchange clients who pass the full verification of identity will be able to withdraw up to 100 bitcoins per day.

In the last 24 hours, there was an outflow of more than 63.5 thousand bitcoins from the centralized trading venues

The number of bitcoins on centralized cryptocurrency exchanges fell to the level of 2018 when the value of the main cryptocurrency fell to the mark of $3.2 thousand. This is indicated by data from the analytical platform Glassnode. In the last 24 hours alone, there was an outflow of more than 63.5 thousand bitcoins.

During the week, cryptocurrency transaction tracking service Whale Alert recorded more than 50 withdrawals of digital assets from exchanges, totaling $18.5 billion (465 thousand bitcoins).

PayPal will launch its cryptocurrency wallet
The payment company is developing a financial super-application for U.S. residents, which will support tools to work with high-yield savings accounts, investment services, and other services.

PayPal announced the launch of its cryptocurrency wallet, which can be used by residents of the United States. The announcement was made by PayPal’s CEO Dan Schulman during a Q2 2021 conference with investors.

According to him, the developers have already completed work on the wallet and in the coming months, it will be integrated into the company’s super app. Wallet users will be able to use additional functionality, as well as exchange messages.