Venmo adds support for buying, holding and selling cryptocurrencies – TechCrunch

Venmo is adding support for cryptocurrency, starting today. The company says it will begin to roll out the ability for Venmo’s more than 70 million users to buy, hold and sell cryptocurrencies directly in the app, similar to the support Venmo parent company PayPal added late last year. Initially, Venmo will support four types of […]

Powell calls cryptocurrencies ‘vehicles for speculation’

Federal Reserve Chair Jerome Powell holds a news conference following the Federal Reserve’s two-day Federal Open Market Committee Meeting in Washington, July 31, 2019.Sarah Silbiger | ReutersCryptocurrencies are largely for making bets on price increases and haven’t reached the status of payment mechanisms, Federal Reserve Chairman Jerome Powell said Wednesday.”They’re really vehicles for speculation,” the…