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Crypto Hedge Funds Grapple with Shutdowns and Lackluster Returns in 2023


Crypto hedge funds have on average underperformed Bitcoin (BTC) by a significant margin in the first half of 2023, while about 13% of funds have shut down so far this year. On average, crypto hedge funds generated a 15.2% return in the first six months of this year, well below the 83.3% that...

Global Payment Firm PayPal Launches Crypto Stablecoin – How Does it Work?


Global digital payments giant PayPal Holdings Inc. is stepping into the stablecoin market. The fintech behemoth, which was founded more than 25 years ago, is set to become the first major financial institution to launch its own US dollar-backed stablecoin, which will be called PayPal USD (PYUSD)....

Payments Giant Paypal Launches Dollar-Backed Stablecoin PYUSD


Paypal has introduced its own stablecoin, representing the first venture of its kind by a leading financial firm. Initially reported by Bloomberg, the launch could notably accelerate the slow integration of cryptocurrencies for payment purposes. A New Era for Paypal: Introduction of PYUSD...

Miami Mayor Francis Suarez Embraces Bitcoin Donations for Presidential Bid


Miami Mayor Francis Suarez, a vocal crypto advocate, announced that his Presidential campaign is officially accepting donations in the leading cryptocurrency Bitcoin (BTC).  In an interview, the Miami Mayor said, “officially, my campaign is accepting Bitcoin.” The announcement aligns with...

Curve Finance Offers Public Bounty of $1.85 Million to Identify Hacker


Curve Finance, the troubled DeFi platform that lost over $60 million last week in an exploit, has announced a bounty of $1.85 million to anyone who can identify the exploiter. In a Tweet Monday, the DeFi protocol noted that the deadline for the “voluntary return of funds” in the Curve Finance...

Everything to know about Shib SSI, Shiba Inu’s Layer2 solution


Shiba Inu users are set to witness a busy month with the altcoin prepared to make multiple launches. According to a previous notice by Shiba Inu, the Ethereum-based altcoin will launch the Shibarium mainnet in August. While users were primarily excited about the much-anticipated mainnet, Shiba...

Class-Action Lawsuit Against Tether and Bitfinex Thrown Out


In a significant legal victory for Tether and Bitfinex, Chief Judge Laura Taylor Swain of the U.S. District Court for the Southern District of New York dismissed a class action lawsuit brought against the stablecoin issuer.  The lawsuit, filed by Matthew Anderson and Shawn Dolifka in 2021, alleged...

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