Crypto News Today looks at PayPal, Worldcoin, Huobi, and more.
In today's crypto news roundup, we delve into a series of significant events that have shaped the digital currency landscape. From PayPal's groundbreaking entry into the stablecoin market to regulatory challenges faced by Worldcoin in Kenya, the crypto world continues to be a blend of innovation and controversy. Meanwhile, Huobi grapples with rumors and a dip in stablecoin reserves, and Curve Finance showcases resilience by recovering a majority of its hacked funds.
PayPal, the global payments behemoth, has announced its foray into the cryptocurrency market with the introduction of its Ethereum-based stablecoin,. The move marks a significant milestone as it's the first time a major financial institution is issuing its own stablecoin. The PYUSD will be pegged to the U.S. dollar and backed by assets like U.S. dollar deposits and short-term Treasuries.
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PayPal to Issue Dollar-Pegged Crypto Stablecoin Based on EthereumJUST IN: Global payments giant PayPal is launching its own dollar-pegged stablecoin. By shauryamalwa
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PayPal Introduces Dollar-Pegged Stablecoin for Crypto TransactionsPayPal has announced the launch of its new stablecoin, PayPal USD, which is built on Ethereum and fully backed by US dollar deposits. The stablecoin can be used for making purchases, sending money, and converting between other supported cryptocurrencies.
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PayPal launches dollar-backed stablecoin issued by Paxos: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Brent Xu, the founder and CEO at Umee, discusses the price movement of altcoins as regulatory uncertainty has weighed on investors this year. He also provides his outlook for these cryptocurrencies.
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Worldcoin activity surges in week following launch, project claimsWeekly global World ID verifications increased by more than 100% in the week following Worldcoin's launch from beta, the project claims.
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Worldcoin expects more companies to integrate in the coming months, says product head👁️ “Over the coming weeks and months - during the second half of the year- we expect to spend a lot more time helping companies set up these integrations.” - tiagosada.
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Worldcoin's Nairobi Warehouse Raided by Kenyan Police: Local Reports.PoliceKE raided a warehouse run by worldcoin in Nairobi and took away documents and machines, according to local media reports. By amitoj and egreecehee.
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