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Wintermute founder and CEO Evgeny Gaevoy says the Near Foundation reneged on an offer to convert $11m million worth of its stablecoin. The NEAR Foundation and Aurora allegedly reneged on an offer to convert $11 million worth of USN stablecoin s, Wintermute founder and CEO Evgeny Gaevoy has claimed. In a Nov. 7 X (Twitter) post, Gaevoy claimed NEAR refused to honor a commitment to facilitate the sale of $11.2 million worth of its stablecoin USN for the FTX estate. 3. Summary To reiterate, I see this situation very clearly as: - NF committed to backstop USN and earmarked money for it - Aurora accepted the redemption in August (and only last week backtracked on it) - NF decided they have the power to keep the $11M to themselves instead of… — wishful cynic (@EvgenyGaevoy) November 7, 2023 Gaevoy said Wintermute was working with FTX to liquidate its assets for creditors which included the sale of $11.2 million worth of USN. Gaevoy claimed Wintermute executed the transaction — whi...

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....

Trust Wallet is a secure noncustodial cryptocurrency wallet that supports multiple blockchains. A secure cryptocurrency wallet is crucial for those investing in the growing cryptocurrency market. Technically, crypto wallets are pieces of software that enable users to send and receive digital currencies, like Bitcoin (BTC), Ether (ETH) and Litecoin (LTC). Cryptocurrency wallets are typically used to store multiple coins and tokens at once. However, most wallets only support a limited number of digital currencies. These wallets can come in the form of hardware (much like a flash drive) that can be connected to the internet as needed or digital storage (like a banking app) that can be accessed on a device. To ensure security, cryptocurrency wallets store codes called private keys that need to match with a public key before the wallet owner can spend their money. Trust Wallet is an example of such a wallet.  It allows users to control and access their digital assets and provides support ...