Bitcoin (BTC) is approaching a retest of the psychologically important $30,000 amid a fresh wave of optimism about the likelihood of near-term spot bitcoin Exchange Traded Fund (ETF) application approvals, as well as optimism about crypto’s broader adoption. The world’s first and largest digital asset by market capitalization was last up around 2.5% and on…
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Bitcoin’s price remains range-bound as equities, gold and U.S. Treasurys offer competitive rates with reduced risk. This week’s CPI report could shake things up. The S&P 500 index is currently trading only 6% below its all-time high, which was reached in January 202. Traditionally, such a situation would be seen as a bullish sign for…
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At the time of writing, the official Paypal stablecoin PYUSD smart contract has been unveiled, and as it stands, the maximum aggregate supply amounts to 26,905,005.66 PYUSD. In spite of the existence of more than 26 million Paypal stablecoins, the contract continues to retain a substantial 92.91% of this supply. Concurrently, the Paxos Treasury wields…
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Representative Patrick McHenry, chairman of the House Financial Services Committee, weighed in positively on the launch of PYUSD, a dollar-pegged stablecoin issued by Paypal, a U.S.-based payments company. McHenry stated that if properly regulated, stablecoins “hold promise as a pillar of our 21st-century payments system,” calling on Congress to put clear rules on the sector…
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Bitcoin rebounded on Tuesday, following the news that Paypal was launching a USD stablecoin on the ethereum blockchain. The company hopes the move will bridge the gap between fiat and cryptocurrencies for all of its stakeholders. Ethereum was marginally higher today. Bitcoin Bitcoin (BTC) was back in the green on Tuesday, as the cryptocurrency made…
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Global digital payments giant PayPal Holdings Inc. is stepping into the stablecoin market. The fintech behemoth, which was founded more than 25 years ago, is set to become the first major financial institution to launch its own US dollar-backed stablecoin, which will be called PayPal USD (PYUSD). The stablecoin is going to be issued by…
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Following the announcement by Paypal of the introduction of a novel stablecoin asset named PYUSD, a wave of counterfeit Paypal tokens has emerged on decentralized exchange (dex) platforms, including Uniswap. The absence of an official release of PYUSD’s token address by Paypal or Paxos has paved the way for the creation of these fraudulent tokens,…
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Paypal has introduced its own stablecoin, representing the first venture of its kind by a leading financial firm. Initially reported by Bloomberg, the launch could notably accelerate the slow integration of cryptocurrencies for payment purposes. A New Era for Paypal: Introduction of PYUSD Stablecoin to Facilitate Cryptocurrency Trading and Payments On Monday, the internet is…
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Payment processing giant PayPal started crypto payments in March 2020 and since then has been actively involved in the crypto payment sector. American financial technology company PayPal launched a new crypto stablecoin called PayPal USD (PYUSD) on Aug. 7. The new US dollar-backed stablecoin will be issued by Paxos Trust Co. and fully backed by United…
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David Marcus, CEO of Lightspark, a company that builds business-grade solutions to facilitate payments on top of the Lightning Network, shared his experience in developing on top of the Bitcoin scaling layer. Marcus stated that it is “incredibly complex and hard to build software around this protocol,” acknowledging the constraints the Lightning Network presents for…
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