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PayPal’s launch of a U.S. dollar-pegged stablecoin has prompted questions from Democratic members of the House Financial Services Committee, while Republican leadership said the coin showed the potential of regulatory clarity.In an Aug. 9 statement, committee ranking member Maxine Waters said she was “deeply concerned” about the PayPal USD (PYUSD)
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Until now, most of crypto’s big innovations have been for crypto-natives. PayPal’s stablecoin is different, says Austin Campbell, the former head of Portfolio Management at Paxos. Source
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The top Democrat on the House Financial Service Committee criticized PayPal’s plans in a statement on Wednesday. Source
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied An analysis of the smart contract of the just-launched PayPal stablecoin PYUSD revealed the presence of so-called “centralization attack vectors.” Smart contract security auditor Pashov pointed out in a recent Twitter thread that PYUSD’s contract has an
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Bitcoin's price saw a 3% uptick, climbing to just shy of $30,000 in response to a plunge in global long-dated government bond yields. This fall in yields was triggered by China's far weaker than anticipated trade numbers for July. The U.S. 10-year Treasury yield tumbled below the 4% mark. These
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Huobi will launch a trading pair with PayPal’s stablecoin PYUSD, backed by the US dollar, with a perpetual zero trading fee. Huobi users will be able to trade PYUSD/USDT. The announcement highlights that the exact date of pair
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That restriction will likely lift in time, and PayPal may ultimately onboard more people into crypto than Coinbase (108 million at last count). And even if only a fraction of those customers ever interact with Web3 beyond PayPal this doesn’t have to cheapen crypto’s purity (which frankly has already been
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PayPal has been allowing users to buy,sell, and hold crypto assets for several years. The company oversaw $1.36 trillion in total payment volume and conducted over 22 billion payments transactions in 2022, according to its website, making it one of the largest financial services companies in the world. Original Source
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Bitcoin and ether remained little changed over the past 24 hours, another sign of just how tepid the market is, as even the entry of payment giant PayPal (PYPL) into the stablecoin market failed to move the needle. Both bitcoin and ether haven't moved much in price on the day
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Representative Patrick McHenry, the US House Financial Services Committee chair, endorsed PayPal’s stablecoin, PYUSD, as a key pillar for modern payments. The endorsement was given on Aug. 7, shortly after PayPal announced the stablecoin launch in partnership
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