Seeds of Wisdom RV and Economic Updates Thursday Morning 1-30-25
Good Morning Dinar Recaps,
PAYPAL’S PYUSD STABLECOIN JOINS CARDANO, ENHANCING BLOCKCHAIN INTEROPERABILITY
PYUSD’s integration into Cardano enhances DeFi liquidity, providing users with new stablecoin options and increasing cross-chain transaction potential.
▪️PYUSD, launched by PayPal, is now available on Cardano via a bridge by Wanchain, expanding cross-chain options.
▪️The stablecoin brings new lending opportunities to Cardano, enabling platforms to offer yield-earning products.
▪️PYUSD’s presence on Cardano boosts liquidity, attracting more participants and enhancing the network's appeal.
Cardano is expanding with the integration of PayPal USD (PYUSD) in its system. PYUSD, a stablecoin that was first available on Solana and Ethereum, is now accessible on Cardano through a bridge created by Wanchain. This provides Cardano blockchain users with new ways to trade, lend, and manage liquidity.
The introduction of PYUSD opens up new opportunities for lending protocols on Cardano. Platforms may adopt the stablecoin to offer yield-earning options, further expanding the lending ecosystem. For traders, having another stablecoin for liquidity and positions adds flexibility and efficiency. PayPal users and blockchain participants with PYUSD can now bridge their assets to Cardano, helping attract more users and making the ecosystem more appealing.
Wanchain’s CEO, Temujin Louie, stated that the integration will provide users with additional options and more autonomy when moving assets between blockchains. With nearly $447 million in Cardano’s DeFi ecosystem, this collaboration will promote stronger connections between networks, fostering new developments and broader blockchain adoption. It will contribute to improving the interaction between diverse systems.
Broader Implications for US Cryptocurrency and Cross-Border Payments
Aside from its impact on Cardano, PYUSD’s integration could also have broader implications for the cryptocurrency market in the United States. Platforms that support PYUSD may gain a competitive edge as users increasingly favor networks offering diverse stablecoin services. This trend could reshape US digital currency platforms, encouraging greater adoption of blockchain-based payment solutions.
The integration also demonstrates the potential of stablecoins like PYUSD to streamline cross-border payments. By significantly reducing transaction times and fees compared to traditional banking systems, stablecoins could set the stage for wider adoption of similar frameworks across other networks.
However, challenges remain. The need for seamless operation and adherence to regulatory frameworks, including features like reversing transactions or locking accounts, is critical. Cross-chain bridges also pose technical challenges, such as security risks, complicated transactions, and ensuring secure and efficient performance. Addressing these issues will require constant attention and strong security measures.
PYUSD’s Market Performance and Cardano’s Expanding Stablecoin Ecosystem
The total supply of PYUSD is currently $484 million, according to data from CoinMarketCap. The stablecoin was launched in August 2023. In September, PayPal began allowing US businesses to directly buy, hold, and sell cryptocurrencies through their accounts. In October, OKX wallet revealed that it now supports the token in its spot market.
PYUSD is an addition to the growing list of stablecoins in the Cardano ecosystem, including DJED, iUSD, MyUSD, USDM, USDC, and USDT, among others. The price of Cardano’s native token, ADA, has increased by more than 7% in the last 24 hours and is currently trading at $0.9542.
The integration of PYUSD into Cardano is a major milestone. It strengthens the foundation for blockchain interoperability, fosters growth in DeFi, and enhances the user experience for both Cardano participants and PYUSD holders.
@ Newshounds News™
Source: CoinSpeaker
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CRYPTO FOE AND FORMER SEC CHAIR GARY GENSLER RETURNS TO MIT
▪️Gensler will focus on AI, financial technology, and finance.
▪️The announcement comes one week after he stepped down as SEC chair.
▪️Gensler is touted to be one of crypto’s staunchest adversaries in Washington D.C.
One of crypto’s top adversaries is returning to academia.
Former Securities and Exchange Commission Chair Gary Gensler will return to MIT after a controversial four-year stint at the helm of the regulator.
His teaching and research will focus on artificial intelligence, finance, financial technology, and public policy, according to a press release from the prestigious university.
“I’m thrilled to once again collaborate with MIT’s distinguished team of scholars creating a better future for all through artificial intelligence, finance, and technology,” said Gensler in a statement.
The news comes one week after he left the markets watchdog the same day that Donald Trump was inaugurated. Before stepping down, he had become crypto’s l’ennemi commun after spearheading the agency’s crackdown on the industry.
At MIT, Gensler will serve as co-director of the FinTechAI initiative, exploring the intersection of AI and finance.
His new focus on AI comes at a crucial time for the US tech industry. Earlier this week, the market went into freefall after a Chinese artificial intelligence startup dubbed DeepSeek surfaced. The startup brandished an AI assistant that operates at a discount to US-based AI leader OpenAI and its ChatGPT product.
The slump — which wiped out more than $1 trillion from the broader stock market — was also exacerbated by derisking from investors in anticipation of Wednesday’s Federal Open Market Committee meeting by the Federal Reserve.
Gensler was co-director of MIT’s FinTech@CSAIL, and senior advisor to the MIT Media Lab Digital Currency Initiative immediately before he joined the SEC.
Anti-crypto stance
Under Gensler, the SEC pursued a number of lawsuits against top companies like Coinbase, Binance, and Ripple, while also tagging a number of tokens as unregistered securities.
His tough approach wasn’t limited to crypto.
While leading the Commodity Futures Trading Commission from 2009 to 2014, he was also known as an industry hard-hitter — annoying Wall Street and implementing new swap rules in the aftermath of the global financial crash of 2008.
“Those who have known Gensler throughout his regulatory career know he has an imperious attitude that tends to rub industry and fellow policymakers the wrong way,” Sean Tuffy, a regulation and market structure expert, previously told DL News.
“He’s not a warm and fuzzy guy,” Tuffy said.
@ Newshounds News™
Source: DI News
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