40 articles found
🚀 Stablecoins Gain Momentum in Argentina
In the face of escalating inflation (211%), Argentinians continue to actively purchase dollar-pegged stablecoins, steering clear of Bitcoin due to its high volatility. For cash purchases of these stable tokens, locals are turning to domestic P2P exchanges due to the country's stringent currency regulations.
🔥 New Stablecoin Released by Gyroscope
In an effort to mitigate risks associated with other stablecoins, such as centralized and algorithmic ones, Gyroscope has launched the Gyro Dollar (GYD), a decentralized stablecoin, on the Ethereum blockchain. The project has attracted investments from key industry players like Galaxy and Placeholder.
PayPal is rolling out its own stablecoin
Partnering with Paxos Trust, financial giant PayPal has unveiled PayPal USD (PYUSD), focusing on swift and budget-friendly payments. With backing from dollar deposits, short-term government securities, and similar cash equivalents, PayPal's CEO, Dan Schulman, envisions the stablecoin bolstering the company's foothold in the digital currency space: "The vision over time is that this becomes a part of the overall payments infrastructure."
CRV Token Skyrockets 800% on Bithumb Exchange!
Currently, one token is equivalent to $3.5 in dollar terms. Conversely, the value of the CRV token hovers around $0.6 on other trading platforms. Such price discrepancies have been spotted on other exchanges too. We advise you to hold off on any transactions involving the CRV token for the time being.
OpenAI & Microsoft Face Data Theft Accusations
OpenAI and Microsoft are under fire in a class-action lawsuit over alleged web scraping to gather private data for training AI models like ChatGPT. The lawsuit, filed on Sept. 5 in San Francisco, accuses the companies of using stolen private info, including personal data from countless internet users, without consent. The plaintiffs argue that without this data theft, products like ChatGPT and DALL-E wouldn't be the billion-dollar businesses they are today. They seek damages and a halt to the alleged illegal data scraping.
Singapore’s Central Bank Unveils Stablecoin Regulatory Framework
Singapore’s central bank, the Monetary Authority of Singapore (MAS), has released a final regulatory framework for single-currency stablecoins (SCS) under its regulation. MAS stated that the framework’s goal is to guarantee “a significant level of value stability” for stablecoins. This framework will be applicable to all stablecoins tied to the Singapore Dollar or any other G10 currency issued within Singapore.
Are whales gearing up to manipulate the market again?
The data analysis company, Santiment, has detected a notable surge in transactions (exceeding $10 million) within certain renowned altcoins, including AAVE, APE, COMP and others. The majority of these have seen a price decline, with AAVE being the exception, as its value increased by 1.14%. This shift was discernible not only against the dollar but also when compared to Bitcoin.