PayPal, a payment giant based in San Jose, California, has announced the launch of its own stablecoin, PYUSD, in partnership with Paxos Trust Co. This digital currency is backed by deposits denominated in US dollars, along with short-term Treasuries and comparable cash equivalents, to ensure a secure and reliable peg to the US dollar. The […]
Srettha Thavisin, the 61-year-old candidate of the Pheu Thai Party, was elected as the 30th Prime Minister of Thailand earlier this week. He received 482 votes out of a possible 747 and now needs the signature of King Maha Vajiralongkorn to officially step into office. Thavisin is a political newbie but not a crypto newbie, […]
The Internal Revenue Services (IRS) recently proposed new rules for brokers to follow when selling and trading digital assets, in an effort to catch crypto users avoiding taxes. This has been met with criticism from prominent crypto commentators, who believe that the stringent rules will push the crypto industry away from the United States.Messari CEO […]
CNBC, one of the world’s largest cable news networks, has dropped Bitcoin Cash (BCH) and Litecoin (LTC) from its coverage and replaced them with Solana (SOL). The network will continue to cover news related to Bitcoin and Ethereum, two of the world’s most valuable crypto platforms.It is unclear why CNBC dropped BCH and LTC, but […]
Ronaldinho, one of the greatest soccer players of all time, is being investigated by Brazilian authorities over allegations that he may have been involved in a cryptocurrency scam. The scheme, called “18kRonaldinho”, promised investors generous returns of 2% per day if they invested at least $30 in digital currencies. Ronaldinho was an ambassador for the […]
Coinbase has announced that it will be adding PayPal’s new stablecoin, PayPal USD (PYUSD), to its listing roadmap. The digital asset is designed to maintain a 1:1 peg with the US dollar and is built on Ethereum. PayPal customers can buy and sell PYUSD through the PayPal app and website and convert it to other […]
Bitcoin and Chainlink are two of the top cryptocurrencies with potential as long-term investments. Bitcoin, the world’s largest crypto by market cap, is seen as a safe-haven investment rather than a conventional currency. It has gained attention in 2021 due to Tesla CEO Elon Musk’s announcement of the company’s $1.5 billion investment, followed by the […]
Ethereum’s price has been relatively flat in the last 24 hours, with a slight 11% drop in the past month. The Federal Reserve Chairman, Jerome Powell, has hinted at more interest rate hikes in the future, but this has not caused any panic. Ethereum’s price chart currently shows a bearish sentiment, with the Parabolic SAR […]
The cryptocurrency market appears to be recovering from its recent downtrend, according to JPMorgan’s latest research. Analysts for the American bank estimate that the liquidations of long positions are “largely behind us”, based on the open interest in Bitcoin futures contracts on the Chicago Mercantile Exchange (CME). Open interest serves as an indicator of market […]
The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have proposed new tax regulations for the digital assets industry. The proposed regulations would require payment platforms, wallet providers, trading firms, and real estate brokers to file tax information on certain sales or exchange transactions. According to the Treasury Department, the proposed rules, […]
