Welcome to the Tech Meme Ride Home for Friday, October 23rd, 2020.

I'm Brian McCullough.

Today is PayPal making moves to become a major player in crypto. A look at the two big ballot

initiatives in California that Silicon Valley cares about and which the

rest of the country might be affected by. Why YouTube is this election's

go-to place for campaigns to run ads and of course the

weekend long read suggestions here's what you miss today in the world of

tech.

Is PayPal about to make moves to become an 800 pound gorilla in the

crypto space we saw earlier this week that they're embracing crypto and now

sources say PayPal is exploring acquisitions

of various cryptocurrency companies including holding talks with Bitcoin

custodian BITCO which makes multi-signature cryptocurrency wallets, quoting Bloomberg.

It couldn't be learned how much PayPal would pay for Bitco if it goes ahead with the deal.

Bitco raised $58.5 million in 2018 at at a 170 million dollar valuation according to

Pitchbook. Representatives for BitGo and PayPal declined to comment.

Apollo Alto, California-based BitGo was founded in 2013 by Chief Executive Officer Mike Belshi. It offers digital

wallets that require multiple signatures for transactions as well as offline vaults

for storing Bitcoin and rival currencies. It was one of the first companies in the space to focus on

institutional investors according to its website. The company applied in August

to New York regulators to become an independent regulated qualified custodian under New York State banking law a press release showed.

Custodians like BitGo are responsible for safekeeping digital assets using secure storage.

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