Ebay Denies Crypto Payment Acceptance Rumors

News | May 16, 2019 By:

E-commerce giant Ebay has denied reports that it will start accepting cryptocurrency as a payment method.

Rumors about crypto acceptance started after photos of the advertisements of eBay at the Consensus conference in New York City went viral. One placard reads: “Virtual Currency. It’s happening on eBay.”

However, in response to the building speculation, an Ebay spokesperson said that “cryptocurrency is not accepted as a form of payment on the eBay platform, nor is it part of our payments strategy.”

In addition to Ebay, there were also rumors that trading platform TD Ameritrade, which holds an estimated $1.3 trillion in assets, was testing bitcoin and Litecoin spot trading on its platform.

“Currently we’re not. We have what we call paperMoney, which is what our clients can try for trading strategies,” Sunayna Tuteja, head of digital assets at TD Ameritrade, said in an interview with Bloomberg. “It was a simulation. So there was no actual execution.”

These rumors reportedly helped fuel the rally in crypto prices this week. Bitcoin traded above the $8,000 mark this week for the first time since July 2018.