Tag: stablecoin
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US Banks Clash with Crypto Over $6.6T Stablecoin Threat
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US banks are raising alarms over what they describe as a dangerous loophole in the recently passed GENIUS Act, warning it could trigger an unprecedented flight of deposits into the crypto sector. Traditional finance groups say the legislation, which is designed to regulate stablecoins, may inadvertently give exchanges such as Coinbase and Binance the ability…
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PayPal Shakes Up Stablecoin Market with PYUSD Rewards
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PayPal is making waves in the stablecoin sector by offering 3.7% annual interest rewards for holders of its PYUSD stablecoin. The initiative, announced on April 23, is set to launch this summer, marking a significant step in integrating digital assets into everyday financial activities. Introducing PYUSD Rewards PYUSD, launched in 2023, is a US dollar-backed…
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Avalanche Stablecoins Surge 70%, But AVAX Struggles
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Despite a sharp rise in stablecoin supply on the Avalanche (AVAX) network, its native token remains under pressure. AVAX has lost nearly 60% of its value over the past year, highlighting concerns over capital deployment in DeFi and broader market uncertainty. Stablecoin Supply Jumps to $2.5B The stablecoin supply on Avalanche surged by over 70%…