AD

AD

News Explorer — PayPal's Stablecoin Off to Sluggish Start: Nansen

Generated by AI, curated by humans

Aug 25, 5:54 pm

Blockworks

PayPal's Stablecoin Off to Sluggish Start: Nansen

Despite being backed by PayPal and listed on Coinbase, PayPal's stablecoin PYUSD has struggled to gain adoption in its first three weeks. With a total supply of 47 million tokens, the majority of which have never circulated, PYUSD is primarily held on centralized exchanges. In contrast, other decentralized stablecoins have seen faster adoption, highlighting the importance of finding real-world use cases for stablecoins.

Despite being backed by PayPal and listed on Coinbase, PayPal's stablecoin PYUSD has struggled to gain adoption in its first three weeks. With a total supply of 47 million tokens, the majority of which have never circulated, PYUSD is primarily held on centralized exchanges. In contrast, other decentralized stablecoins have seen faster adoption, highlighting the importance of finding real-world use cases for stablecoins.

Latest

Sep 22, 6:39 pm

Decrypt

Bitcoin Critic Senator Menendez Charged With Bribery

U.S. Senator Robert Menendez has been charged with bribery, allegedly accepting gold, cash, and mortgage payments from t... Read Summary

Sep 22, 5:46 pm

Decrypt

Gucci's Latest Fashion Show Is Now in Roblox Too

Gucci's new creative director, Sabato de Sarno, made his runway debut at Milan Fashion Week, and now the luxury brand ha... Read Summary

Sep 22, 2:46 pm

Blockworks

Google Cloud's Analytics Service Now Supports Polygon, Avalanche, More

Google Cloud has expanded its data support for blockchains by adding 11 more blockchains to its public data sets on BigQ... Read Summary

Sep 22, 12:10 pm

Decrypt

FTX Claims Are Being Traded for 35% of Debt Value

Investors are actively trading FTX debts in an unregulated market for bankruptcy claims, with debts trading at around 35... Read Summary

Sep 22, 12:07 pm

Protos

Nansen Blames Unnamed Third-Party for Security Breach

Nansen, a blockchain analytics firm, experienced a security breach due to a third-party vendor, resulting in 6.8% of its... Read Summary

Sep 22, 11:55 am

Protos

Bitcoin Ordinals Creator Draws Backlash for Renumbering Proposal

Casey Rodarmor, the creator of Bitcoin Ordinals protocol, is facing backlash for wanting to renumber the ordinal numbers... Read Summary

Sep 22, 11:07 am

Decrypt

FTX Sues Former Hong Kong Affiliate Employees

FTX, the bankrupt crypto exchange, has filed a lawsuit against four former employees of its affiliate, Salameda, accusin... Read Summary

Sep 22, 10:40 am

The Block

Ethereum's Dencun Network Upgrade Could Be Delayed Into 2024

The launch of Ethereum's Deneb-Cancun upgrade, aimed at addressing scalability issues, may be delayed until early next y... Read Summary

Sep 22, 10:21 am

The Block

Ethereum Network Activity 'Disappointing' After Merge, Says JPMorgan: Report

JPMorgan analysts have reported that Ethereum's network activity has fallen short of expectations following the Shanghai... Read Summary

Sep 22, 10:28 am

Decrypt

Binance, CEO Zhao File to Dismiss SEC Lawsuit

Binance and its CEO, Changpeng Zhao, have filed a motion to dismiss the SEC's lawsuit against them, arguing that the SEC... Read Summary

Sep 22, 9:44 am

Coindesk

Bybit to Suspend UK Operations From October 1

Crypto exchange Bybit has announced that it will suspend its operations in the UK due to regulatory changes. Starting fr... Read Summary

Sep 22, 9:20 am

Decrypt

Nansen Users’ Blockchain Addresses Exposed in Security Breach

Crypto analytics platform Nansen experienced a security breach after one of its third-party vendor's systems was comprom... Read Summary

Sep 21, 9:01 pm

The Block

FTX Founder Won't Be Released Before Trial

Former FTX CEO Sam Bankman-Fried's appeal to be released from jail ahead of his trial has been denied by a U.S. Court of... Read Summary

Sep 21, 9:29 pm

Decrypt

UK Regulator Sends 'Final Warning' to Crypto Firms

The UK's Financial Conduct Authority (FCA) has warned crypto businesses to comply with new financial promotion rules, bu... Read Summary

Sep 21, 7:56 pm

Coindesk

Sam Bankman-Fried's Planned Witnesses Barred From Testifying

Judge Lewis Kaplan has granted the U.S. Department of Justice's motion to block all proposed witnesses from testifying a... Read Summary

AD