Coin circle news focus:
PYUSD stablecoin is here! Paypal stablecoin receives support from House Finance Committee chairman
Binance has reduced its position in USDC, Coinbase CEO reveals
New features in CoinGecko! Introducing the “SEC Deemed Securities” Label
The currency circle boss said this:
S4mmy.eth: "PYUSD will become a global cryptocurrency entrance!"
Critical hit chance this week:
The second day of the event! "Lian Xi Birthday" community feedback: Treat me to a big ice cream
Coin News Focus
PYUSD stablecoin is here! Paypal stablecoin receives support from House Finance Committee chairman
Traditional payment giant PayPal will launch the US dollar stable currency PYUSD (PayPal USD), which will be issued by Paxos Trust, which has rich experience in stable currency issuance such as BUSD and USDP. PYUSD is a legal currency reserve stablecoin issued on the Ethereum blockchain. It will use U.S. dollars, short-term government bonds and U.S. dollar equivalents as reserve assets. It will be open to PayPal's U.S. users in PayPal and external hot wallets in the coming weeks.
Patrick McHenry, chairman of the U.S. House of Representatives Financial Services Committee, said that PayPal's launch of PYUSD proves that stablecoins, if issued under a clear regulatory framework, will make stablecoins expected to become the pillar of the 21st century payment system, and once again emphasized the bipartisanship of the two parties. The importance of the stablecoin-related legislation enacted.
What is not yet known is whether PYUSD will be listed on cryptocurrency exchanges and compete with mainstream stablecoins such as USDC and USDT in the currency circle.
Binance has reduced its position in USDC, Coinbase CEO reveals
Since the stablecoin BUSD issued by Binance, the world's largest cryptocurrency exchange, was ordered to stop issuance by the United States, it seems that it is constantly looking for different stablecoin solutions for use in the Binance ecosystem, including TUSD and FDUSD that were originally less concerned. stable currency.
Brian Armstrong, CEO of Coinbase, the largest exchange in the United States, revealed that Binance has currently reduced its position in USDC, the second largest stable currency, and transferred funds to another stable currency (market speculation is FDUSD). However, what is reassuring is that the market value of USDC will will not be affected by this.
CoinGecko new features! Introducing the “SEC Deemed Securities” Label
Recently, as regulatory uncertainty in the United States has gradually increased, the U.S. Securities and Exchange Commission (SEC) has accused some cryptocurrencies of being securities in the case of Binance and Coinbase. CoinGecko, a well-known on-chain data platform, launched "SEC Alleged SEC Security" Category tags, which include Binance platform currency BNB, ADA currency, Solana and other currencies.
CoinGecko stated that this label only sorts the more well-known tokens, with a total of 24 tokens, while the SEC complained of a total of 68 tokens as "securities" in the lawsuit. SEC Chairman Gary Gensler even said that the vast majority of cryptocurrencies are For securities, there is no time to prepare for it.
Other currency news
Worldcoin, the cryptocurrency project that gained attention due to the Iris airdrop, said that more enterprise integrations will be available in the second half of the year, and developer SDK tools have been opened.
Musk renamed the Twitter subscription service Twitter Blue to X Premium to accelerate the rebranding and maintain the past profit-sharing subscription model.
Rumors of the arrest of Huobi executives were quickly clarified, but its stablecoin HUSD asset reserves have dropped by 30%.
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