PayPal’s foray into the stablecoin space with the launch of PayPal USD on Monday garnered mixed reactions among cryptocurrency enthusiasts: Some heralded the news as an industry-shaping event, while others described it as entirely tepid. Regardless, PayPal’s decision to enter the $125-billion stablecoin market made waves. With Paxos Trust as the issuer of its PYUSD token, the move represented another…
This story comes from GG. Your Web3 Gaming Power-Up Discover GG Neopets Metaverse, an NFT-powered game based on the massively popular 1999 pet simulator, was in development for roughly two years before it was abruptly canceled last month. Now, the team is repurposing some of Neopets Metaverse’s assets for a new mobile game, World of Neopets, which will not have…
Weekly cryptocurrency asset flows for the week ending Aug. 4 reconciled at $107 million in outflows, continuing a three-week negative trend totaling $134.8 million. Once again, the lion’s share of movement was attributed to Bitcoin (BTC). With $111 million in outflows, Bitcoin funds negated the majority of inflows for the week. According to CoinShares’ Digital Asset Fund Flows weekly report,…
Showing that crypto doesn’t sleep, several imposter tokens using the PYUSD ticker have already appeared on the decentralized exchange, Uniswap, hoping to cash in on the hype around PayPal’s newly announced ERC-20 stablecoin, PayPal USD. A PayPal spokesperson confirmed with Decrypt the real PayPal USD ERC-20 contract address via Etherscan. The token itself was created on November 8, 2022. Currently,…
FTX has outlined its intended reorganization plan, which will categorize claimants of the bankrupt exchange into specific classes and pave the way for it to become operational as an offshore entity. However, a body representing FTX customers said it is “extremely disappointed” by the plan. FTX’s Official Committee of Unsecured Creditors (UCC) said despite its repeated requests and previous promises…
Bitcoin’s failure to rebound off strong support may open further downside as bears may be tempted to sell. Source: https://cointelegraph.com/news/price-analysis-8-7-spx-dxy-btc-eth-bnb-xrp-ada-doge-sol-ltc
ARK Investment Management founder and CEO Cathie Wood has reportedly suggested that the United States Securities and Exchange Commission (SEC) will approve multiple spot Bitcoin exchange-traded funds, or ETFs, at the same time. In an Aug. 7 interview with Bloomberg, Wood predicted the SEC would approve “more than one [ETF] at once” if it moves forward with any application currently…
Decentralized finance (DeFi) app Steadefi was exploited for at least $334,000 on Aug. 7 in an ongoing attack. The app’s development team has said in a social media post that the attack currently “puts all funds at risk.” The app’s total value locked (TVL) has plummeted as a result of the attack, according to data from DeFiLama. The Steadefi team posted…
Researchers at the Universities of London, Durham and Surrey have developed a novel AI system that can eavesdrop on your keyboard to collect potentially sensitive data. The algorithm, presented in a new paper, was tested on a MacBook Pro keyboard and achieved 93-95% accuracy in detecting which keys were pressed based solely on audio recordings. The research also illustrates how ubiquitous…
The Securities and Futures Commission (SFC) of Hong Kong issued a notice about unlicensed virtual asset trading platforms “engaging in improper practices,” warning of potential criminal charges. In an Aug. 7 notice, the SFC said certain trading firms had falsely claimed to have submitted applications for licenses in Hong Kong. The securities regulator said should the companies actually apply to…
