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PayPal increases weekly cryptocurrency purchase limits to $100,000

Here are your latest business headlines from Cheddar.

News 12 Staff

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Jul 16, 2021, 3:26 PM

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Updated 1,106 days ago

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  • PayPal is increasing its weekly cryptocurrency purchase limit to $100,000, five times the original limit. The company is also getting rid of its annual purchase limit of $50,000. The online payment system’s vice president says the changes give users more choice and flexibility when it comes to buying cryptocurrencies on its platform. It began allowing users to buy cryptocurrency on its platform in October 2020.
  • Three large hospitals are holding off on administering Biogen’s new Alzheimer’s drug following the Food and Drug Administration’s (FDA) approval in June. The Cleveland Clinic, Mount Sinai Health System in New York and Providence in Renton, Washington say they won’t be administering Aduhelm and question its effectiveness. The hospitals also are questioning the FDA’s approval process following the FDA’s commissioner’s call for an investigation over questions regarding the review staff’s inconsistencies with the administration’s policies and procedures.
  • Facebook Pay is expanding beyond its platforms and will become available for retailers next month. It will be an option for online customers like Google’s stored cards, PayPal and Amazon Pay. It is easier to for users to pay for items now but gives Facebook more data from those using Facebook Pay. The social media company will collection information regarding the payment and transaction details. It will be able to see what is purchased, which could lead to ads related to customers’ purchases.
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