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Bitcoins For Free, Endorses Lolli Following eBay Partnership

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Bitcoin’s performance over the past few days have been nothing but thrilling. After surging up to a high of over $19K, Bitcoin was seen subject to a minor setback at the time of writing. With Bitcoin spiraling up the right way, several crypto platforms were seen expanding their business. Crypto rewards platform, Lolli was seen teaming up with a prominent online marketplace with an eye-catching endorsement.

Bitcoin To Be More Accessible With Lolli’s Latest Partnership

In a recent blog post, Lolli, a crypto platform that gives out rewards in crypto for shopping, revealed that it had partnered with eBay. As per the announcement, the crypto platform would offer its users a 1% return in Bitcoin right after they shop at eBay’s marketplace. While eBay is home to over 1.6 billion products as well as services, users of Lolli would have a wide range to choose from.

eBay hoards over 127 users and has been functioning for over 25 years now. This latest collaboration could pose beneficial for both eBay and the crypto-verse. Even though 2020 would possibly go down as the worst year in history, the holidays bring in some solace. With the holidays right around the corner, Lolli’s latest initiative could aid its users. The Black Friday frenzy has been heeded across the globe. Speaking about the crypto platform’s free Bitcoin endorsement, Matt Senter, the CTO and Co-founder said,

“We’re proud to launch with eBay just in time for Black Friday and Cyber Monday as a treat to our loyal Lolli shoppers. We’ve been working tirelessly to make this integration possible in time for people to earn bitcoin on all their holiday shopping this year. This is the way.”

With the crypto-verse turning out to be highly valuable, several individuals have been steering towards the industry. Lolli aims to make crypto and specifically Bitcoin, more accessible to the world. The CEO of Lolli, Alex Adelman speaking about Lolli’s mission suggested that they intend to boost Bitcoin education while driving its adoption.

Bitcoin Faces Minor Setback

During the time of writing, Bitcoin was seen recording a slump. After getting the community’s hopes up, the king coin was back at $17K. With a 5.02% drop in its price in the last 24-hours, Bitcoin was trading for $17,904.23. Additionally, key indicators declared the presence of bears in the BTC market.

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The signal line was seen reposing below the MACD line which further dictated the formation of bearish crossover. The Awesome Oscillator indicator alerted the community of bear invasion by forming red closing bars.

NYSE Parent Firm ICE Exchange Makes Takeover Offer for eBay

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Intercontinental Exchange, the owner of the New York Stock Exchange (NYSE) reportedly approached the eBay marketplace with a takeover offer. Interestingly, reports note that the deal could vale eBay at more than $30 billion.

It was first reported by the Wall Street Journal, stating that both the companies haven’t had a formal discussion yet and henceforth there’s no deal confirmation in place as for now. Despite several news outlets reporting on the same, ICE itself released an article entitling, “Intercontinental exchange statement on news reports suggesting possible transaction with eBay”.

ICE’s official blog did confirm that they approached eBay with a takeover offer, however, they also claimed that the market place “eBay hasn’t engaged in a meaningful way”. It further continued that they are “not in negotiations regarding the scale of all or part of eBay”.

This being said, eBay seems not interested enough in continuing the talk on the takeover deal. However, it was reported that the ICE’s approached eBay multiple times. CNBC reported that the spokesperson from Atlanta-based ICO declined to comment and added;

“It’s ICE’s policy not to comment on rumors or speculation related to M&A.”

Interestingly enough, ICE is primarily looking to take cover eBay’s marketplace business and not the classified unit which eBay is expecting to sell. This comes into notice as the active shareholder, Starboard Value LP suggested eBay Inc to consider selling classified businesses to make enough progress to improve the value of shareholders. Concerning the same, Reuters added comments shared by Starboard in a letter to eBay’s board.

“To achieve the optimal outcome, we believe Classifieds must be separated, and a more comprehensive and aggressive operating plan must be put in place to drive profitable growth in the core Marketplace business,”

On the other hand, ICE is looking to diversify its trading wings than just traditional finance. Consequently, NYSE and Crypto venture Bakkt are two subsidiaries of ICE.