Shiba Inu’s DeFi Bid, PayPal’s PYUSD Under US Regulatory Pressure

Written by BTSE

August 10, 2023

Shiba Inu’s DeFi Bid, PayPal’s PYUSD Under US Regulatory Pressure

Trending Tokens on BTSE:

Asset Price 24h %
Bitcoin (BTC) $29,622.20 0.23%
Ethereum (ETH)  $1,856.14 0.15%
Shiba Inu (SHIB) $0.00000967 2.21%
Coin98 (C98) $0.17491 23.63%





(as of 10:30 AM Singapore Time, August 10, 2023) 


As the sun rises over Asia this morning, prices of large market cap giants such as Bitcoin (BTC) and Ethereum (ETH) have, once again, remained strong in their respective price ranges of $29K~$30K and $1.8K~1.9K. Despite some minor excitement around an update to Bitcoin ETF applications, (Read more in yesterday’s report here) prices have returned to the stability we’ve continued to experience over the last month.

A noteworthy up-and-comer, however, is Coin98 – following its recent listing on BTSE, has seen significant jumps in price. If you’d like to know more about this promising token, read the full announcement here.

Overnight, Coinbase’s ‘Base’ blockchain came online publicly for the first time following a period of testing. The release of this network is a milestone for the crypto industry as a whole as the first time a publicly-traded company has officially launched their own blockchain. The company has announced its hopes for dApps on its chain to reach as many as 1 billion people, in continued efforts to bring crypto and blockchain to into the mainstream.

It hasn’t been all sunshine and rainbows in the industry overnight, however, as regulators and government figures in the US have continued their struggle towards proper cryptocurrency regulation in the country. The latest development of this saga in the US follows PayPal’s recent announcement of its very own PYUSD stablecoin – which has received heavy criticism from congresswoman Maxine Waters, placing some doubts on the regulatory status of a stablecoin issued even by a traditional payments giant like PayPal.

Token Shiba Inu has officially made its first step to contend in the DeFi space, following the implementation of digital ID for all Shiba Inu developments going into the future, such as the upcoming Shibarium layer 2 blockchain. Despite its roots as a memecoin, the team behind Shiba Inu have taken continued steps over the years to become a serious contender in the crypto space with these plans for a layer 2 blockchain and Self-Sovereign Identity (SSI) digital ID.


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