News

A Comprehensive Look at the New Paypal Stablecoin, Its Control Dynamics, and ‘Freeze’ Option Trending on Social Media

August 8, 2023 0

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

News

Biggest Movers: LINK, SOL Extend Gains, as Crypto Momentum Begins to Shift

August 8, 2023 0

Chainlink surged by nearly 4% during Tuesday’s session, as the token moved towards a one-week high. The move came as cryptocurrencies rebounded, following a slow start to the week. Solana was another big mover, as it headed towards the $24.00 level. Chainlink (LINK) Chainlink (LINK) was one of Tuesday’s biggest movers, as price surged by […]

News

Report: Cryptopunks and Blue Chips Power Top NFT Traders to Over $300 Million in Profits

August 8, 2023 0

The top 15 traders in the Ethereum non-fungible token (NFT) market have amassed up to $101.6 million in profits, as revealed in Coingecko’s latest NFT report. These traders lucratively capitalized on early investments in esteemed blue-chip NFT collections such as Cryptopunks, Bored Ape Yacht Club (BAYC), and Art Blocks. Navigating the NFT Gold Rush: Coingecko […]

News

Wall Street Divided: Treasury Yields Surge Sparks Intense Debates and Divergent Bets

August 8, 2023 0

In recent weeks, Treasury yields have skyrocketed, igniting a Wall Street dispute over whether the precipitous sell-off is now overextended. A small group of prominent investors are wagering that bond prices will bounce back following the abrupt escalation in rates. Hedge Funds Place Bold Wagers Against Treasuries Amid Soaring Yields Analysts at Goldman Sachs and […]

News

Bitcoin, Ethereum Technical Analysis: BTC Nears 1-Week High, as Paypal Launches USD Stablecoin

August 8, 2023 0

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 […]

News

US Representative Patrick McHenry: Stablecoins ‘Hold Promise as a Pillar of Our 21st-Century Payments System’

August 8, 2023 0

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

News

Senator Calls for Audit on Palau’s Ripple-Backed Stablecoin Pilot Program

August 8, 2023 0

Palauan senator Mark Rudimch has called for an audit of Palau’s stablecoin pilot program, launched by the country’s ministry of finance in partnership with Ripple in July. In a letter sent to the public auditor Satrunino Tewid, Rudimch reported the Palauan senate had concerns regarding the “constitutionality, security, accountability, statutory authority, and oversight of

News

Federal Reserve Governor Hints at More Interest Rate Hikes

August 8, 2023 0

Federal Reserve Governor Michelle Bowman says additional interest rate increases will likely be needed to get inflation on a path down to the Fed’s target. “I will also be watching for signs of slowing in consumer spending and signs that labor market conditions are loosening,” the Fed governor added. More Interest Rate Hikes Likely Needed, […]

News

Brazil’s President Reaffirms De-Dollarization Call — Discusses BRICS Expansion

August 8, 2023 0

Brazil’s President Luiz Inacio Lula da Silva has reaffirmed his call to shift away from the U.S. dollar in global trade. He also revealed his stance on the expansion of the BRICS economic bloc ahead of the group’s upcoming summit. “I have said publicly, why does Brazil need the dollar to trade with China?” he […]

News

US Senators Press Biden Administration for Measures to Counter ‘Serious National Security Threats’ Linked to North Korea, Crypto

August 8, 2023 0

U.S. senators have pressed the Biden administration for measures to counter “serious national security threats” posed by North Korea’s dependence on cryptocurrency. According to the lawmakers, North Korea is using crypto “to evade harsh sanctions and support its ambitions to project geopolitical power through nuclear weapons and ballistic missiles.” US Lawmakers Concerned