Nigerian Crypto Trading Platform Patricia Unilaterally Converts User Funds Into PTK Stablecoin
Nigerian cryptocurrency trading platform Patricia announced on August 18 that it has converted users' outstanding funds into a US-backed stablecoin called "Patricia Token" (PTK). Some social media users criticized the platform's decision to unilaterally convert customer funds. Some critics described the conversion of user funds as an attempt by the Patrica team to scam users and run away.
The Market Value of USDC Has Fallen by More Than 30 Billion U.S. Dollars Since January 2022, and the Decline Will Reach 41.6% in 2023 Alone
According to CoinGecko data, on August 21st, the market value of the stablecoin USDC has dropped by over 30 billion US dollars since its peak in January 2022 (56,128,605,419 US dollars). The decline within 2023 is as much as 41.6%, and it is currently reported at 25,989,247,153 US dollars, which is the same level as in July 2021.
OKX Will Launch Lybra Finance (LBR) Transactions at 15:00 Today, and Deposits Are Now Open
According to official sources, OKX will launch trading for Lybra Finance (LBR) on August 16th at 15:00 (UTC+8), and will open the LBR/USDT trading pair. LBR deposits are now open, and LBR withdrawals will be available on August 17th at 18:00 (UTC+8).
PayPal Launches PYUSD Stablecoin: Analysis of Centralized Stablecoins' Smart Contracts
On August 7th, payment giant PayPal announced the launch of the PayPal USD (PYUSD) stablecoin. This stablecoin is issued by Paxos and its contract has been deployed on the Ethereum mainnet.
Vice President of PayPal: PYUSD Is Planned To Be Adopted on CEX, and There Is No International Expansion Plan
On August 14th, Jose Fernandez da Ponte, Senior Vice President of PayPal Blockchain, Cryptocurrency, and Digital Currencies, stated that although PayPal's stablecoin PYUSD, which is currently launched on Ethereum, can only be obtained through the PayPal wallet, their goal is to make PYUSD also available on major trading platforms. PayPal believes that stablecoins are the killer application of the current blockchain, especially in remittances, B2B payments, and digital goods. PayPal's vision is to become the channel between fiat currency and Web3, enabling stablecoin payment systems to become mainstream.
Affected by the attack, the Zunami Protocol stablecoin UZD fell 96.6% in a short time
According to CoinGecko data, the stablecoin UZD launched by Zunami Protocol fell by 96.6% in the short term due to the impact of the attack, and is currently trading at $0.0342057.
Earlier today, Zunami Protocol was attacked and has already lost more than $2.1 million.
Data: Aave's native stablecoin GHO circulation exceeds 20 million pieces
According to Etherscan data, the issuance of Aave's native stablecoin GHO has exceeded 20 million since it was launched on the Ethereum mainnet on July 15, with a current total of 20,029,456. Previously, the issuance of GHO exceeded 10 million on August 2.
PayPal's New PYUSD Stablecoin Raises Centralization Concerns
The recent launch of PYUSD stablecoin by PayPal has raised concerns in the cryptocurrency community about centralization. Cryptocurrency experts who have studied the underlying smart contracts of PYUSD have found that the new stablecoin is actually written in a "very old" version of Solidity. Solidity is the most commonly used programming language for Ethereum, the world's second-largest blockchain.
Curve Finance Launched a Proposal To Reconstruct the Stable Liquidity Pool Stableswap Pool, and Voting Will End on August 15
According to official sources, DeFi stablecoin trading platform Curve Finance has launched a proposal for a new generation of stable liquidity pool called Stableswap Pool, which started community voting on August 8th.It is reported that the fees for the Stableswap Pool launched by Curve Finance this time will be reduced by 4 basis points. The current voting information shows a 100% approval rate, and the voting will end on August 15th.
Scammers and Opportunists Create Fake PYUSD Tokens After PayPal Launches Stablecoin
Within 16 hours of PayPal's launch of their new stablecoin (PYUSD), numerous copycat tokens with the same ticker have appeared on various chains, including Binance Smart Chain, Ethereum, and Coinbase's Base. However, it is important to note that the real PayPal USD token was created in November last year and can only be sent between verified PayPal and compatible wallets.
