For the second week of August, the Nasdaq Crypto Index (NCI) increased 1.2%, fueled by bitcoin (BTC) and ether (ETH).
PayPal ignites potential stablecoin stampede
Customers of the payment giant can now buy PayPal USD (PYUSD), a dollar stablecoin deployed on Ethereum. Eligible customers will be able to transfer PYUSD to other users and send it to "compatible external wallets.” This move reassures Ethereum as the go-to platform where TradFi giants will build revamped financial infrastructure and will create more demand for ETH as PayPal’s 400M+ customers start using PYUSD as a more efficient and secure way to send and receive digital dollars.
Private equity titan David Rubenstein makes the case for Bitcoin
Rubenstein believes BTC is here to stay thanks to growing institutional interest and general global demand for a form of money that can’t be controlled by governments. The news is another example of traditional investors steadily recognizing Bitcoin’s potential.
Coinbase launches Base, a layer-2 blockchain and public company milestone
Coinbase’s 100M+ users can now use the exchange to on-ramp from fiat to crypto, withdraw crypto to a wallet, and interact with decentralized applications (e.g., Uniswap) in a cheap and fast way. Base removes much of the friction for most users to start interacting with blockchain technology, potentially opening the floodgates for tens of millions of new users to join crypto in the coming years.
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