PayPal's stablecoin debut raised hopes for broader adoption and an introduction of cryptocurrencies to the masses. Early adoption trends paint a different picture.
This week's Crypto Biz explores Binance Connect shutdown, BitGo's funding round, PayPal Crypto Hub, and other news.
Analysts believe spot Bitcoin ETFs, new stablecoin adoption, and an upcoming Ethereum scaling upgrade are among the catalysts that could reignite the crypto markets.
The Cryptocurrencies Hub is key for PayPal to reinvent itself as a crypto-inclusive platform. The service will allow for the sale and purchase of cryptocurrencies among other functionalities.
This week’s Crypto Biz explores PayPal’s stablecoin, Coinbase’s new layer 2 network, Bitstamp’s fundraising and the growing popularity of crypto bots on Telegram.
Rep. Maxine Waters said she was “deeply concerned” about PYUSD without a proper regulatory framework in place, while Rep. Patrick McHenry said it “hold promise.”