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The R Roundup: PayPal Plays With Stablecoins - Issue #101

Issue #101 : Web 3 News Headlines Of The Week

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The R Roundup.sol
August 13, 2023

The R Roundup: PayPal Plays With Stablecoins - Issue #101

Adoption can be measured by industry giants that enter the space & this week PayPal remerges their Web 3 pivot.

It was announced last week that PayPal would be launching their U.S. Dollar pegged Stablecoin called $PYUSD which can be redeemed 1:1 for US dollars. Stablecoins have been under immesnse pressure post the $UST collapse alongside other indefinate depegs from $USDC & $USDT.

$PYUSD will enable users to transfer, send, fund purchases & convert directly via the PayPal platform with a roll out in the coming weeks for U.S. users.

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The shift toward digital currencies require a stable instrument that is both digitally native and easily connected to fiat currency like the U.S. dollar

Dan Schulman, CEO & President of PayPal

The PayPal stablecoin is in collaboration with it’s issuer Paxos with the token being issued via the Ethereum network.

DeGods Dupes Polygon For Ethereum🎨

Despite initally launching on Solana, DeGods has underwent a number of network changes, the latest being Ethereum.

DeLabs the team behind the PFP NFT collection y00ts & DeGods has announced that they will once again be moving from Polygon to Ethereum in alignment with their Season 3 announcement.

A date has yet to be confirmed for the migration however interestingly, the move results in the project returning the $3 million grant they secured from Polygon to expand their team & support other Polygon projects.

Microsoft Meets Aptos Labs👨‍💻

The industry leading emergence doesn’t end there as Aptos Labs partners with Mircosoft on new AI blockchain solutions.

Aptos will be expanding their tools and services using Microsoft’s AI technology to deploy a number of offerings which bring AI and blockchain technology to life.

Many have argued that the two don’t go well together however with the introduction of a new chatbot names Aptos Assistant powered by Mircosoft’s Azure OpenAI Service exemplifies ways they can leverage the already existing features.

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Artificial intelligence and blockchain technologies are quickly converging for one important reason: they are both generational breakthroughs that profoundly impact the evolution of the internet and shape society

Mo Shaikh, Aptos Labs CEO

SBF Jailed, Finally👮‍♂️

Despite almost escaping his deserved fate, SBF has been sent back to jail.

It was revealed on Friday by a federal judge that it was likely SBF tampered with evidence leaking his ex-girlfriend’s diary to the New York Times.

As a result, SBF’s bail was revoked which enabled him to stay at his parents’ home.

It was argued by SBFs attorney that he was “just trying to rehabilitate his shattered image” when sharing the diary.

With the trial set in October, SBFs partner in crime Caroline Ellison is set to feature as a witness in his trial.

A Week At RR📆 

Check out last weeks content published to stay up to date with the latest research trends & industry talking points👇

Demystifying Londons Leading Web 3 Conference Zebu Live

Join us as we talk to Zebu Live about what exactly they are building!

therroundup.beehiiv.com/p/demystifying-londons-leading-web-3-conference-zebu-live

The Worlds Gone $BALD 🧑🏻‍🦲

What Actually Happened On Base With $BALD?

therroundup.beehiiv.com/p/worlds-gone-bald

Raises W/ RR💰Vol.61

Weekly Crypto Fundraising Data W/C: August 1st

therroundup.beehiiv.com/p/raises-w-rrvol61

RR Files🗂️

Wondering what we are reading this week at RR?

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As a reminder, this is not a trading signal or investment advice; it is an opinion, and each trader/investor should know and understand the risks of trading cryptocurrencies.

This should not be regarded as financial advice; feel free to familiarise yourself with our NFA disclaimer.

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