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In a surprising change of stance, one of America’s largest financial institutions, the Bank of America (NYSE:BAC), has reportedly approved a new service that would allow some of its clients to trade Bitcoin futures. The banking behemoth, which has been a vocal Bitcoin critic for many years, has made a 180-turn and will now permit its customers to do transactions with the digital asset. In 2018, Bank of America blocked financial advisers and clients from trading in Bitcoin-related investments. Similarly, in April, the bank published the results of a survey claiming that 74% of fund managers consider Bitcoin to be a bubble. It appears the bank is slowly dropping its anti-Bitcoin stance following a growing demand for the flagship cryptocurrency from investors. Recall that the bank recently launched a cryptocurrency research team dedicated to researching cryptocurrencies and related technologies. According to sources familiar with the matter, the bank is offering the service to a few select customers due to a large amount of margin required to trade the Bitcoin futures. Furthermore, there are reports that some customers might have started using the service. Other U.S banks will likely emulate the Bank of America and allow crypto services on their platforms.

Paypal Increases Buy Limit for Cryptocurrencies Paypal Inc. announced Thursday that it has increased purchase limits for cryptocurrencies. The company explained that since the U.S. launch of Paypal Crypto in October 2020, it has been actively engaging with customers “to better understand their needs,” with the aim to provide “a trusted and secure platform to buy, hold, sell and checkout with cryptocurrency.” The payments giant detailed: As part of our efforts to meet the ever-changing needs of our customers, we are pleased to announce that we have recently raised the purchase limits of cryptocurrency for eligible Paypal customers in the U.S. to $100,000 per week with no annual purchase limit. This is a five-fold increase from the previous weekly limit of $20,000 and a substantial increase from the annual purchase limit of $50,000. The minimum crypto purchase is still $1 and the platform currently supports bitcoin, ethereum, litecoin, and bitcoin cash. “These changes will enable our customers to have more choice and flexibility in purchasing cryptocurrency on our platform,” Paypal noted.

Bitcoin and other altcoins took a dip today. Analysts believe that the dip is proof that Bitcoin is still in its correction phase. Most analysts say that another Bitcoin bull run is inevitable and the price will surpass $ 100,000. The crypto market’s recent dip has been hard, but, what’s harder is its road to recovery. As of writing, many cryptos seem to be falling. Could this be another correction or another crash?

Sygnum has become the first bank in the world to roll out support for Ethereum 2.0 staking. The number of Ethereum staked on the Beacon Chain contract has now surpassed 6 million ETH. Ethereum’s highly anticipated London hard fork is expected to go live on August 4.