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Proponents say PayPal’s PYUSD could see Ethereum become the money layer of the internet, while opponents argue that it’ll act like a poorly designed CBDC. Paypal’s new Ethereum-based stablecoin, PYUSD has been seen as bittersweet news for the crypto community . While it could finally see Ethereum find its place in mainstream adoption, it could also spell trouble for de central ization and personal control of assets, warns the community . The new stablecoin, Paypal USD, was launched on Aug. 7 and is issued by Paxos Trust Co. — the firm behind Binance USD (BUSD). It’s built on Ethereum and “designed for digital payments and Web3,” with the firm saying it will soon be available to United States customers. The launch has been seen as a boon for Ethereum adoption. Ethereum bulls Anthony Sassano and Ryan Sean Adams believe the ERC-20 stablecoin will push the blockchain closer towards becoming the money layer of the internet. This is the Ethereum contract address for PayPal's stablecoin....

“What could go wrong?” Decentralized ID protocol Worldcoin has launched, receiving mixed takes from the cryptocurrency community. The launch of blockchain-based digital passport platform Worldcoin has had a polarizing effect on the cryptocurrency community , with questions around its centralization, privacy and security highlighted. Worldcoin released its protocol token on July 24, with major exchanges like Binance announcing support for the token. The project consists of a privacy-preserving digital identity (World ID) and its associated ecosystem token (WLD) which users receive upon creation of a wallet. The Worldcoin project is now live. pic.twitter.com/xZXG4w56Ps — Worldcoin (@worldcoin) July 24, 2023 In order for users to join the ecosystem, they have to provide a scan of their iris through one of Worldcoin’s specialized Orb hardware devices. This step provides proof-of-personhood that is cryptographically secured and used as a World ID,  Worldcoin founders Alex Blania a...

In the letter, SBF denies stealing funds and stashing billions of dollars away. The crypto community has voiced their opinions on former FTX CEO Sam “SBF’ Bankman-Fried’s “pre-mortem overview” of the collapse of FTX he published on Jan. 12 as a letter on Substack.  https://t.co/XVd0BPHxEU — SBF (@SBF_FTX) January 12, 2023 As previously reported by Cointelegraph, SBF denied the allegations made against him in the lengthy letter and maintained that FTX US had been “fully solvent” at the time the firm filed for Chapter 11 bankruptcy, with approximately $350 million in cash available. Bankman-Fried further stated that FTX International had a substantial amount of assets (approximately $8 billion) when John Ray became CEO. According to Bankman-Fried, “No funds were stolen. Alameda lost money due to a market crash it was not adequately hedged for–as Three Arrows and others have this year.” Unfortunately for him, the crypto community seemed unimpressed by SBFs “pre-mortem overview....