In The Protocol this week: Coinbase's launch of 'Base,' the crypto community's reaction to PayPal's new stablecoin and the brouhaha over Matter Labs' use of Polygon-crafted open-source software. By liqquidity
raises $6M
, to expand team and continue development of technology designed to help organizations raise money through creation, usage and sale of financial products. , UOB Venture Management, Mirana Ventures, Emirates Consortium, Matrix Partners, Apollo Capital, HashCIB, Geek Cartel and Bytetrade Labs.)community votes on two governance proposals covering $5M of ARB tokens from project’s nearly $4B treasury,
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Coinbase's New 'Base' Blockchain Goes Live; Rep. Maxine Waters Is 'Concerned' About PayPal's StablecoinCoinDesk Daily host Jennifer Sanasie discusses the launch of Coinbase's layer 2 blockchain, Base, and Rep. Maxine Waters' concerns about PayPal's stablecoin. Additionally, a new crypto show is aiming to capture mainstream attention by drawing inspiration from popular TV broadcasts like 'The Apprentice' and 'Shark Tank.'
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PayPal’s PYUSD Launch Sparks Flood of Fake Tokens on UniswapFollowing the launch of PayPal's recently announced ERC-20 stablecoin, PayPal USD, a number of fake tokens with the PYUSD ticker have appeared on the decentralized exchange (DEX) Uniswap. These tokens were created on Nov. 8, 2022. Currently, PYUSD/WETH and PYUSD/WBNB are trading pairs on Uniswap that use the PYUSD ticker. PYUSD will only be accessible through PayPal, according to PayPal, which did not say whether it intended to list on other exchanges like Coinbase or Binance.
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PayPal Launches PYUSD Stablecoin: Guide to What We Know So FarU.S.-based fintech heavyweight PayPal becomes first Web2 major to launch its own native USD-pegged stablecoin. On Aug. 7, 2023, American multinational heavyweight PayPal announced the launch of native stablecoin PayPal USD (PYUSD). This is the first time a Web2 major issues digital assets on a public blockchain. Here is what we know about PayPal USD's (PYUSD) design and the opportunities it unlocks for digital money users.
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PayPal Stablecoin Raises Concerns About Usefulness, Gas Fees, and Outdated TechnologyPayPal's new stablecoin, PYUSD, faces questions about its usefulness, high gas fees, and reliance on outdated technology. Despite the announcement of its launch, PayPal's website did not immediately offer the option to purchase PYUSD. The decision to issue the stablecoin on Ethereum has sparked debate, with critics highlighting the protocol's scalability issues. With 430 million active accounts, PayPal's entry into the stablecoin market is seen as a significant development.
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