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Crypto News Today: China Robin Rivals, Argentina Crypto Boom, and More Top Headlines for June 1

Crypto news is all the rage on Tuesday and we’re taking a look at the top stories taking the internet by storm today.

Image of cryptocurrency tokens in a wallet.

Source: stockphoto-graf / Shutterstock.com

Crypto is gaining traction among investors that are seeking out alternative investments to stocks. It also allows them to share up savings in digital assets that are tied to fiat currency. While there are some regulation worries concerning that, there doesn’t seem to be any chance of crypto going away anytime soon.

Let’s see what crypto news traders should keep up on today below.

China’s Robinhood rivals pile into the crypto craze as they look to compete overseas

“Two of China’s rivals to stock trading app Robinhood are looking to cryptocurrencies as a way to compete overseas. The companies, Futu and Tiger Brokers, disclosed during earnings calls last month they are applying for licenses in Singapore and the U.S. that would allow local customers to trade digital currencies.” — Evelyn Cheng, CNBC

Crypto Mining Booms on Cheap, Subsidized Energy in Argentina

“Bitcoin miners in Argentina are capitalizing on the inefficiencies of the country’s interventionist economy to reap outsize returns, fueled by memories of currency busts and powered by government-subsidized electricity.” — Scott Squires, Bloomberg

China’s crypto crackdown may be DC’s blueprint

“China recently announced a major crackdown on cryptocurrency. The relative ease of use of existing currencies such as Bitcoin and Ethereum and their transparent operating code is apparently too much for the People’s Republic to allow its citizens to use. The development mirrors an apparent, but not as well-defined, push by Biden administration officials and members of the media to sink, or at least control, the crypto market.” — Kristin Tate, The Hill

PayPal Plans To Add Crypto Withdraw Feature

“PayPal will soon let customers who hold cryptocurrency in their accounts transfer the funds to external digital wallets rather than just hold or spend the money.” — PYMNTS

Outside of these topics, there’s other crypto news worth keeping tabs on today.

This coverage comes directly from InvestorPlace.com as we offer our own look into crypto. That includes Chia (CCC:XCH-USD) IPO talk, a look at BitTorrent (CCC:BTT-USD), as well as what to know about Polygon (CCC:MATIC-USD). Check out all of that at the following links.

More Tuesday Crypto News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2021/06/crypto-news-today-china-robin-rivals-argentina-crypto-boom-and-more-top-headlines-for-june-1/.

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