PayPal increases weekly cryptocurrency purchase limits to $100,000

Here are your latest business headlines from Cheddar.

News 12 Staff

Jul 16, 2021, 3:26 PM

Updated 1,066 days ago

Share:

  • 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.


More from News 12
0:28
​Poughkeepsie police: Man who pointed replica gun at officers disarmed, hospitalized

​Poughkeepsie police: Man who pointed replica gun at officers disarmed, hospitalized

2:09
Sun and clouds on Father’s Day ahead of heat wave expected in the Hudson Valley

Sun and clouds on Father’s Day ahead of heat wave expected in the Hudson Valley

1:30
Sleepy Hollow Sprint Triathlon raises money for youth summer program

Sleepy Hollow Sprint Triathlon raises money for youth summer program

0:21
Red Cross provides emergency assistance to 33 residents displaced by Yonkers fire

Red Cross provides emergency assistance to 33 residents displaced by Yonkers fire

1:50
Students sing their hearts out for the 2024 'Yonkers Idol' competition

Students sing their hearts out for the 2024 'Yonkers Idol' competition

1:59
Revelers enjoy Juneteenth festival and parade in Yonkers

Revelers enjoy Juneteenth festival and parade in Yonkers

1:57
Rep. Bowman, Latimer encourage voters to cast ballots early

Rep. Bowman, Latimer encourage voters to cast ballots early

0:29
Police: 2 arrested for stabbing man in New Windsor

Police: 2 arrested for stabbing man in New Windsor

0:29
Saugerties man convicted of manslaughter for fatally beating man in 2022

Saugerties man convicted of manslaughter for fatally beating man in 2022

Is your dad awesome? Hudson Valley tell us why your dad rocks!

Is your dad awesome? Hudson Valley tell us why your dad rocks!

2:04
Village of Sleepy Hollow raises Pride flag for first time despite opposition from some residents

Village of Sleepy Hollow raises Pride flag for first time despite opposition from some residents

2:04
Kevin Jonas undergoes surgery to remove common skin cancer; urges fans to get checked

Kevin Jonas undergoes surgery to remove common skin cancer; urges fans to get checked

1:39
Showing support for Ukraine in the Hudson Valley during Yonkers Ukrainian Heritage Festival

Showing support for Ukraine in the Hudson Valley during Yonkers Ukrainian Heritage Festival

0:47
Westchester Medical Center pioneers robotic procedure to help those with severe hearing loss

Westchester Medical Center pioneers robotic procedure to help those with severe hearing loss

0:29
Carmel police warn people about recent car burglaries

Carmel police warn people about recent car burglaries

0:35
Prosecutors: Former Wallkill firefighter sentenced to prison for 2021 arson incident

Prosecutors: Former Wallkill firefighter sentenced to prison for 2021 arson incident

1:47
EXCLUSIVE: News 12 uncovers police data that shows 19 children struck by vehicles in Ramapo in 6 months

EXCLUSIVE: News 12 uncovers police data that shows 19 children struck by vehicles in Ramapo in 6 months

1:28
Officials: 7 people injured, 13 families displaced in Yonkers fire

Officials: 7 people injured, 13 families displaced in Yonkers fire

0:33
Dutchess County Sheriff's Office: Connecticut man killed in Town of Dover crash

Dutchess County Sheriff's Office: Connecticut man killed in Town of Dover crash

1:03
PARENTS: Dutchess County children lost for 2 hours on nightmare bus ride home

PARENTS: Dutchess County children lost for 2 hours on nightmare bus ride home