Category Archive: Cryptocurrency, No picture
PYUSD Post-Launch: Exploring Mixed Reactions, Technology and Future
PayPal, the global digital payment giant, unveiled its native U.S. dollar stablecoin, PYUSD, on August 7. This announcement, although anticipated in fintech circles, has prompted a flurry of discussions, ranging from the stablecoin’s potential impact to the sheer usefulness of yet another centralized entity using crypto. The PYUSD offers functions identical to a standard PayPal […]
Can Curve Finance Catch Its Hacker? $1.85M Bounty Now For Public Assistance
Curve Finance, a decentralized finance protocol, announced that the $1.85 million bounty to recover funds lost during a reentrancy exploit on July 30 is now offered to the public. The breach, attributed to a weakness in the Vyper smart contract language for Ethereum Virtual Machine, resulted in wary investors pulling out a significant $3 billion from […]
Worldcoin’s Nairobi Offices Raided After Suspension in Kenya: Report
Worldcoin’s warehouse in Nairobi was raided by Kenyan police over the weekend. Armed with a search warrant, officials seized key documents and machinery, disclosed by local media KahawaTungu on August 7: “The officers backed by multi-agency officials went to the offices along Mombasa Road armed with a search warrant and broke in Saturday before leaving with […]
PayPal Introduces PYUSD Stablecoin in Collaboration with Paxos
PayPal, a popular online transaction platform, is strengthening its crypto game, according to an announcement on August 7. The introduction of PayPal USD, a stablecoin 100% backed by U.S. dollar deposits and short-term U.S. Treasurys, is set to reshape PayPal’s position in the digital payments arena. “The shift toward digital currencies requires a stable instrument […]
Ether Whale Burned 2,500 ETH; Ethereum Community Questions Motives
An individual operating under ENS name nd4.eth, sent 2,500 ETH, equivalent to $4.5 million, to a burn address. The act, which took place on July 26, has since drawn significant attention, leading to the Ethereum community questioning their motives. Can anyone on here explain this tx to me https://t.co/tWLYs0CWyb Looks like nd4.eth sent 2500eth to […]
Crypto Romance Scam In The Air: Minnesota Man Loses $9M
Minnesota police reported that a resident has been swindled out of $9 million in a cryptocurrency scam orchestrated through LinkedIn, according to a local news report. The victim made 21 transactions to a woman promising quick profits in a crypto project named “Coinrule-web3” over a six-month period: “Police say the Eden Prairie resident was cheated […]
Cryptocurrencies Navigate July’s Economic Waves; A Soft Landing Scenario?
July’s crypto landscape found itself closely intertwined with the broader financial markets, mirroring the hopes and realities of the U.S. economy’s potential soft landing, according to a Grayscale report. July’s cryptocurrency trends seemed to mirror the larger economic sentiment surrounding the prospects of a soft landing for the U.S. economy, Grayscale reported. With recent data […]
Binance Adds SHIB to Collateral Assets List, Eyes Potential Bone ShibaSwap Listing
Cryptocurrency exchange Binance has expanded its offerings by adding 22 new assets for loans and collateral, including the meme-based cryptocurrency Shiba Inu, the company announced on August 4. The additions to the Flexible Loan and VIP Loan services mark the latest move by Binance to diversify its financial products. Eight new assets have been included […]
Matter Labs CEO Denies ‘Extremely Disappointing’ Code Copying Allegations from Polygon Zero
zkSync creator Matter Labs’ recently released proving system Boojum has been accused of containing code copied from Polygon Zero’s Plonky2, according to a blog post published by Polygon Zero on August 3. The CEO of Matter Labs, Alex Gluchowski, has vehemently denied these allegations, acknowledging room for improvement in attribution but defending the originality of […]
Curve’s crvUSD Stablecoin Recovers After Brief Depegging
Curve Finance’s crvUSD, its decentralized stablecoin, experienced a temporary dip in value, falling by as much as 0.35% from its peg to the U.S. dollar. The brief depegging comes after Curve Finance’s recent exploit on July 30, which has raised questions regarding the stablecoin’s stability mechanisms. At the time of writing, crvUSD sits at $0.99, […]
