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CoinShares Prioritizes Specialized Funds as It Approaches US NASDAQ Listing
CoinShares shifts its US product strategy to focus on higher-margin crypto equity funds, thematic baskets, and active strategies, stepping away from commoditized single-asset ETPs ahead of its NASDAQ listing.
CoinShares, a leading global digital asset manager, is revamping its US product strategy to focus on differentiated, high-margin opportunities as it prepares for a public listing on the NASDAQ. CEO Jean-Marie Mognetti noted that the commoditization of single-asset crypto ETPs in the American market, driven by fierce competition and consolidation among large players, requires a new playbook.
The revised strategy will target three core categories over the next 12–18 months: crypto equity exposure vehicles that capture the broader digital asset ecosystem; thematic baskets offering targeted exposure to specific blockchain trends; and actively managed strategies combining crypto with other assets.
To sharpen this focus, the firm is streamlining its existing lineup, confirming the wind-down of its CoinShares Bitcoin Futures Leveraged (BTFX) product. Resources previously allocated to planned single-asset ETF launches will be redirected toward the new, higher-margin categories. This disciplined approach aims to create sustainable shareholder value by introducing differentiated products.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
FC Barcelona Faces Scrutiny over Partnership with ZKP Blockchain
FC Barcelona has drawn criticism after partnering with Samoa-registered blockchain startup Zero-Knowledge Proof (ZKP), raising concerns over transparency and financial risk for fans.
FC Barcelona announced a three-year sponsorship agreement with blockchain startup Zero-Knowledge Proof (ZKP) earlier in November. The blockchain was named the club’s official blockchain technology partner. The Samoan-registered company has a minimal digital footprint and limited public information on its operations, raising questions about transparency and due diligence.
Critics highlighted concerns over potential financial risk for fans, with the partnership coinciding with controversial influencer promotions and the launch of ZKP’s first coin auction. Former Barcelona officials and industry analysts described the information gap as alarming, especially given the club’s current financial strain and reliance on digital asset initiatives. Nevertheless, Barcelona later clarified that it has no connection to ZKP’s FCB token.
The agreement reflects a broader trend of crypto sponsorships in European football, which accounted for nearly half of all digital asset partnerships in the 2024/25 season. While many clubs have faced challenges in similar deals, Barcelona’s rapid move into a largely opaque blockchain partnership underscores the growing tension between revenue generation and investor protection.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
Major Ethereum and Bitcoin Options Expiry Follows Crypto Leverage Flush
Approximately 147,000 Bitcoin and 573,000 Ethereum options expire on November 28, signaling key shifts in market positioning.
Approximately 147,000 Bitcoin options contracts are set to expire on Friday, November 28, marking a larger-than-usual expiry event due to the end-of-month schedule, according to market data. The expiring BTC options carry a put/call ratio of 0.58, signaling a greater number of long positions than shorts. Open interest on Deribit is heavily concentrated near the maximum pain level, with additional sizeable positions at lower strike prices.
This week’s US Producer Price Index (PPI) data came in hotter than expected, adding macro uncertainty. Earlier in the week, CryptoQuant reported the largest drop in open interest of the current market cycle, framing the move as a major leverage washout rather than the start of a broader downturn.
Alongside BTC, roughly 573,000 Ethereum options are also expiring today, with a put/call ratio of 0.50, according to exchange data. In total, the notional value of both BTC and ETH options expiring represents a significant volume for the derivatives market. Crypto market capitalization held relatively steady over the past 24 hours. Bitcoin repeatedly tested resistance but failed to break above it, while Ethereum slipped below a key resistance area during Asian trading hours.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
South Africa Postpones Retail CBDC Plans, Focuses on Wholesale Utility
The South African Reserve Bank (SARB) has shelved immediate plans for a retail CBDC, concluding there is no strong, immediate need for this instrument.
The South African Reserve Bank (SARB) has published a position paper concluding its multi-year research into a retail Central Bank Digital Currency (CBDC). The bank highlighted that the project is technically feasible, but there is no pressing need for its immediate implementation. The central bank’s analysis suggests that resources should instead be directed toward enhancing existing financial infrastructure, such as the national payment system, and promoting greater financial inclusion through non-bank participation.
However, the bank maintains that its current stance does not rule out a future retail CBDC, acknowledging its long-term potential to maintain public access to central bank money and support future payment innovation. Key considerations for any future retail implementation include matching the convenience and privacy protections currently offered by physical cash.
Moving forward, the SARB will accelerate its exploration of a wholesale CBDC. This initiative could significantly improve settlement efficiency, financial market innovation, and cross-border transactions. Separately, the SARB has voiced concerns that unchecked growth in stablecoins and other crypto assets presents significant risks to the country’s financial stability.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
Crypto Exchange MEXC Launches Global P2P Incentive Program for Fiat Expansion
MEXC, a major global cryptocurrency exchange, has initiated a long-term P2P incentive program aimed at accelerating its fiat market expansion across key emerging regions.
MEXC has launched a multi-region, long-term incentive program designed to accelerate its market presence in key emerging fiat markets via its Peer-to-Peer (P2P) platform. This initiative covers initial support for eight fiat currencies, including PHP, NGN, IDR, PKR, VND, UAH, and EGP, targeting user bases across South Asia, Southeast Asia, Africa, the Middle East, and the CIS region. The core strategy centers on leveraging P2P trading to create reliable on-ramps for local users.
The program’s structure incentivizes both users and liquidity providers. Users get access to promotions, such as a P2P Flash Sale, which provides up to 10 USDT in combined rewards for initial deposits and subsequent trading activity, contingent upon Advanced KYC verification. The rewards mechanism is designed to reduce the cost of entry for new market participants and encourage engagement with the exchange’s spot and futures markets.
From an institutional perspective, the push underscores a growing competitive effort among global exchanges to establish local fiat gateways and build deep, localized liquidity. MEXC is actively recruiting merchants worldwide to strengthen its P2P ecosystem, positioning these partners as critical components in providing accessible deposit and trading services. The expansion focuses on high-growth emerging economies where P2P often serves as the primary method for crypto acquisition.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
Trust Wallet Drives Mass Crypto Adoption with Apple Pay Integration
Trust Wallet’s Apple Pay integration is a significant step toward making crypto ownership accessible to a global, mobile-first audience.
Trust Wallet, a leading self-custodial wallet, has rolled out a major update integrating Apple Pay functionality for direct crypto purchases in over 45 countries. This move fundamentally simplifies the onboarding process and allows users to buy major cryptocurrencies like Bitcoin and Ethereum within seconds. The integration eliminates traditional friction points, such as lengthy KYC procedures or multi-step transfers from third-party exchanges.
The strategic rollout leverages Apple Pay’s established security features, including tokenization and biometric authentication via Face ID or Touch ID. This focus on enhanced user security is coupled with a deliberate global reach, targeting regions like Brazil, India, and Turkey, where crypto adoption is accelerating, and mobile payment systems are highly dominant. By offering a fast, compliant fiat-to-crypto ramp, Trust Wallet is addressing the infrastructure gap in markets that often lack convenient traditional banking options.
The integration is expected to trigger a potential new wave of retail inflows by dramatically lowering the barrier to entry for mainstream consumers. The fusion of an institutional-grade, non-custodial wallet with a universally accepted payment method signals a maturation of the infrastructure required for mass market crypto adoption worldwide.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
Bitget Wallet Launches Native Solana Staking with Dedicated Validator
Bitget Wallet has introduced Solana staking by operating its own validator infrastructure. Now, it will offer users direct access to onchain protocol yield of over 6% for their SOL holdings.
Bitget Wallet, positioned as a leading everyday finance application, has introduced a native staking framework built on a self-operated validator infrastructure. The initiative starts with support for the Solana (SOL) network. This strategic expansion is designed to provide users with a safer and more transparent staking environment. This will grant direct, self-custodial access to protocol-level rewards without relying on third-party node providers.
The launch allows users to stake SOL directly within the wallet’s Earn section with an annualized onchain yield exceeding 6%. By operating its own validator, Bitget Wallet retains full operational oversight, as well as enhances node performance and the overall predictability of the staking process. This approach aligns with a broader strategy to establish a security-first native staking ecosystem across multiple major blockchains.
This initiative coincides with current market conditions where investors are increasingly seeking predictable, asset-denominated rewards to accumulate long-term positions, as evidenced by over 67% of the eligible SOL supply already staked. The launch strengthens Bitget Wallet’s value proposition by bridging the gap between basic wallet functions and opportunities for users to grow their holdings through secure yield mechanisms.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
Bybit Introduces QR Code Bill Splitting in Pay Feature
Bybit has introduced a Split Bill feature in Bybit Pay that uses QR codes to simplify shared expenses for up to 100 users, enabling fast settlement using crypto assets.
Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced the integration of a Split Bill feature within its proprietary Bybit Pay service. This new functionality is specifically designed to simplify the division of shared expenses among its users who prefer to make transactions with digital assets. The platform now supports bill-splitting for groups of up to 100 participants, allowing them to settle amounts quickly using supported cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).
The core mechanism of the feature involves the generation of a scannable QR code once a bill is created in the Bybit app. This QR code instantly displays the exact amount each person owes in the selected cryptocurrency. This streamlined process focuses on reducing the friction typically associated with managing shared costs, making digital assets more practical for routine social and business transactions.
The rollout of this feature reflects the exchange’s continued effort to enhance the utility of its payment platform and bridge the gap between traditional finance (TradFi) and decentralized finance (DeFi). By focusing on simple, fast, and convenient tools like integrated wallet and payment functions, Bybit is working to provide its global user base with more accessible ways to manage and spend their cryptocurrency holdings.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
Tether to End Uruguay Bitcoin Mining Operations Citing High Energy Costs
Tether, the stablecoin issuer, is reportedly ceasing its Bitcoin mining operations in Uruguay and laying off most of its local team due to uncompetitive energy costs.
Tether, the company behind the USDT stablecoin, has confirmed plans to exit its Bitcoin mining operations in Uruguay, citing energy costs as the primary obstacle. Local reports indicate Tether informed the Ministry of Labor and Social Security of the decision. It is simultaneously laying off 30 of its 38-member team to retain only a minimal crew. The high cost of commercial and industrial electricity in Uruguay, which ranges significantly higher than rates in competitive mining jurisdictions, made the energy-intensive business financially unsustainable.
The stablecoin issuer’s initial venture in 2023 projected investments up to $500 million for data centers and renewable energy capacity. However, the company faced immediate friction with the state-owned power provider, UTE, over competitive pricing. Negotiations to secure lower tariffs or revise energy purchase contracts were ultimately rejected, despite the firm’s formal warning that competitive rates were essential for a project of this scale to continue.
This withdrawal highlights the narrow profit margins and reliance on stable energy pricing within the global Bitcoin mining sector. While Tether is reportedly relocating its focus to jurisdictions with more favorable energy and regulatory frameworks, such as El Salvador and Brazil, the Uruguayan exit serves as a cautionary institutional example of how rapidly escalating operational expenses can challenge large-scale, capital-intensive digital asset infrastructure projects.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
SpaceX Transfers 1,163 Bitcoin to Coinbase Prime-Tied Wallet
SpaceX transferred 1,163 Bitcoin, valued at about $105 million, to a Coinbase Prime-linked wallet, marking another significant on-chain movement from the aerospace company’s treasury.
SpaceX transferred 1,163 Bitcoin (BTC) worth approximately $105 million to a new digital wallet in the early Asian trading hours on November 27. Blockchain data providers indicate the receiving address is likely tied to Coinbase Prime, an institutional custody solution. This transaction continues a pattern of major on-chain activity, following a similar move of 1,215 BTC in October.
The transfer reduces SpaceX’s on-chain holdings to 6,095 BTC. The wallet had been dormant for three years until July 2025, and the current balance is down from a peak of around 25,000 BTC in 2022. The firm has not issued a public statement, leaving the exact motive for the recent transfers unconfirmed by the company.
Market analysts broadly view these transactions as an internal custody reorganization, potentially for enhanced security or asset consolidation, rather than a liquidation. Both the new receiving wallets from the recent transfers show no immediate outgoing movements or exchange interactions. Meanwhile, another Elon Musk-owned company, Tesla, maintains a significant treasury position of 11,509 BTC.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
Naver and Dunamu Set $6.8 Billion Investment for AI and Blockchain Infrastructure
South Korean tech giant Naver and Upbit operator Dunamu plan to invest 10 trillion Korean won ($6.8 billion) over five years to build a next-generation financial infrastructure leveraging AI and blockchain technology.
South Korean internet and fintech conglomerate Naver and Dunamu, the parent company of the nation’s largest crypto exchange Upbit, have announced a plan to invest 10 trillion Korean won ($6.8 billion) into advanced financial infrastructure. The five-year investment is slated to focus on combining artificial intelligence (AI) and blockchain technology. This commitment follows Naver Financial’s official confirmation of its acquisition of Dunamu through a share-swap transaction.
The joint venture aims to establish a new global framework encompassing financial services, payments, and settlements. Executives from both companies cited the critical juncture between the popularization of blockchain and the transition to agentic AI as the impetus for the substantial investment. The merger integrates Naver’s AI and commerce capabilities with Naver Financial’s payment systems and Dunamu’s digital asset and blockchain ecosystem.
The newly merged entities also confirmed they will prioritize the development of a Korean won-pegged stablecoin. This initiative aligns with broader national efforts, supported by South Korean President Lee Jae Myung, to establish a domestic stablecoin market and protect monetary sovereignty. Competitor IT giant Kakao has also advanced its own won-backed stablecoin initiative, although regulatory groundwork remains complicated by the Bank of Korea’s stance on issuer eligibility.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
Vitalik Buterin Donates $760,000 in Ether to Two Decentralized Privacy Apps
Ethereum co-founder Vitalik Buterin has contributed approximately $760,000 in Ether to two decentralized messaging applications, Session and SimpleX Chat.
Ethereum co-founder Vitalik Buterin has disclosed a significant financial contribution to two projects centered on advanced digital privacy. Buterin donated 128 ETH to both the decentralized messaging app Session and the privacy-focused SimpleX Chat, totaling an approximately $760,000 allocation in Ether. He framed the donation as support for the “next steps” in secure digital communication, prioritizing permissionless account creation and robust metadata protection over traditional, identifier-reliant services.
The funds are directed toward applications that aim to eliminate centralized servers and traditional user identifiers, such as phone numbers, which are typically utilized by legacy encrypted messengers. Buterin noted the complexities involved in achieving both metadata privacy and user experience in decentralized multi-device environments. This institutional endorsement highlights the technical challenges in building resilient, private communication tools against a backdrop of increasing regulatory pressures, such as the European Union’s previously debated Chat Control measures.
The move signals the continuing alignment of core crypto figures with decentralized solutions that enhance user autonomy and security. As development teams face technological hurdles, Buterin’s financial and public support aims to draw more attention and resources to these mission-critical challenges.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
Securitize Gains Full EU Approval and Chooses Avalanche for Tokenized Securities Platform
EU regulators granted Securitize approval to operate a digital securities platform, making it the only firm licensed in both the U.S. and EU. The company will launch its first tokenized issuances on Avalanche in early 2026.
Securitize received full regulatory approval from European authorities to operate as an Investment Firm and as a Trading and Settlement System, enabling it to run fully regulated digital securities infrastructure across the European Union. The company is now the only entity licensed to operate digital securities platforms in both the United States and the EU, providing institutional issuers and investors with unified access to two major capital markets.
The firm selected Avalanche as the blockchain for its European trading and settlement system, citing the network’s performance, predictability and suitability for regulated tokenized markets. Avalanche’s sub-second finality and customizable architecture allow institutions to build compliant structures for onchain issuance, lifecycle management and settlement. The approval follows coordination with multiple EU regulators, including the CNMV, ESMA, the Bank of Spain and the European Central Bank.
Securitize plans its first EU tokenized issuance on Avalanche in early 2026. The regulatory framework enables the company to integrate trading, custody and transfer-agent functions within a single digital model, strengthening the broader trend toward institutional-grade tokenization and expanding the role of blockchain infrastructure in traditional capital markets.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
Bolivia to Integrate Stablecoins and Crypto Assets into Its Formal Financial System
Bolivia’s government announced plans to integrate cryptocurrencies and stablecoins into the formal financial system, allowing banks to offer crypto-based services.
Bolivia’s Economy Minister Jose Gabriel Espinoza announced the government’s intention to integrate crypto assets and stablecoins into the nation’s formal financial system. This move will allow domestic banks to custody digital assets on behalf of clients, enabling their use for products such as savings accounts, credit, and loans. This policy reversal comes after the country’s central bank lifted a long-standing ban on virtual assets in 2024.
The decision is driven by the country’s need to stabilize its economy against persistent high inflation and shortages of the US dollar. Espinoza noted that since crypto cannot be globally controlled, it must be strategically recognized and used to the country’s advantage. High inflation rates, which averaged above 22% in the 12 months to October, have already prompted some Bolivian businesses and residents to adopt dollar-pegged stablecoins like USDT as a medium of exchange and a store of value.
This policy places Bolivia in a growing group of nations in Latin America and emerging markets that are turning to digital assets to bypass local currency controls and overcome dollar scarcity.
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.
PayPal Launches Huge Bitcoin Giveaway for US Customers
PayPal has initiated a major Bitcoin sweepstakes offering over $1 million in prizes to US customers, aiming to incentivize platform engagement and drive crypto transaction volume.
PayPal has announced a significant promotional initiative, rolling out a crypto sweepstakes that allocates a total prize pool valued at approximately $1.386 million in Bitcoin. The weekly draws, set to run until late December, will distribute prizes among 1,008 winners, including a top award of $100,000 in BTC. This program is exclusively available to customers based in the United States and is designed as a direct mechanism to spur user activity on the platform.
The sweepstakes marks the first large-scale crypto giveaway launched by PayPal, signaling a competitive push to bolster its standing against established crypto-native exchanges like Coinbase and Binance. By tying the prize mechanism to transaction volume, PayPal aims to convert passive users into active traders and increase its revenue from crypto execution fees.
The focus on US customers aligns with the current legal and operational constraints of running such promotions, though it excludes the company’s vast international user base from participating. Furthermore, all US winners will be responsible for disclosing the fair market value of their prizes to the Internal Revenue Service (IRS).
Disclaimer: Disclaimer: CoinScreamer is an independent media brand owned by NuvexMedia LLC, providing news, research, and market insights. NuvexMedia LLC invests in and collaborates with various companies across the digital asset and technology industries. Despite these partnerships, CoinScreamer operates with full editorial independence to deliver accurate, timely, and objective information about the crypto market. Below are our current financial and business disclosures. © 2025 NuvexMedia LLC. All Rights Reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or any other form of professional advice.