Crypto Biz: Binance Connect Shuts Down, Prime Trust Goes Bankrupt, and PayPal Unveils Crypto Hub

Crypto Biz this week explores Binance Connect shutdown, BitGo funding cycle, PayPal Crypto Hub and other news.

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It has been another week of mixed developments in the crypto industry, with established players winding down their operations while newcomers introduce new crypto features and services.

The crypto buying and selling arm of Binance was shut down on August 16 as the crypto exchange remains under widespread regulatory scrutiny, affecting key partnerships for its operations around the world. Crypto custodian Prime Trust has filed for bankruptcy after months of uncertainty over the state of its finances.

Meanwhile, in better news, BitGo has raised millions of dollars in a fundraising round backed by a new group of investors. New capital has also flowed into ZetaChain, the chain's independent protocol securing $27 million in a seed round backed by more than ten investors.

Finally, PayPal took another bold step into the space, announcing a hub for select crypto users despite the still uncertain environment in the US. On August 16, the company announced a partnership with crypto hardware wallet maker Ledger, allowing US residents to purchase Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), and Litecoin (LTC) in less time. 'steps.

Learn more about these stories and gain insight into the ever-changing crypto industry in this week's Crypto Biz.

Binance Connect ceases operations...