Crypto Biz: Stablecoins are paving the way for mass cryptography, 2nd-8th  June

Crypto Biz: Stablecoins are paving the way for mass cryptography, 2nd-8th June – Mail Bonus

Stablecoins are controversial cryptocurrencies. Doubting the legitimacy and support of Tether (USDT) is a right of scrutiny for many who enter the cryptocurrency market for the first time. The melting of the Terra (LUNC; or old LUNA) ecosystem left little doubt that algorithmic stablecoins have no future beyond Do Kwon’s fantasies. Boring regulators are constantly pushing and pushing dollar-related assets to formulate firmer rules for their use.

But if you look beyond all fear, uncertainty and doubt, stablecoins are providing liquidity to millions of people who do not have access to dollars due to capital controls or sanctions, or because hyperinflation destroys their local currency. This week’s Crypto Biz newsletter examines the role of stablecoins in promoting e-commerce. We also do a little research to see if a large payment platform is preparing its own stable asset.

Checkout .com presents 24/7 stablecoin results in partnership with Fireblocks

If crypto is ever going to succeed as a payment system, stablecoins are likely to play a major role. This week, the international payment intermediary Checkout.com announced that it is launching a new stablecoin settlement system based on Circle’s USD Coin (USDC). Merchants using Checkout.com will now be able to receive USDC payments and convert them to fiat instantly. As it turns out, Checkout.com already made more than $ 300 million in USDC transactions during the beta testing phase. Regardless of what you think about them, stablecoins continue to deliver real value.

Cronos from Crypto.com launches $ 100M accelerator for DeFi and Web3

On Tuesday, Crypto.com’s digital asset exchange announced that its Cronos blockchain ecosystem had launched a $ 100 million accelerator program to speed up distributed finance, Web3 and metaverse projects. The new fund aims to help potential cryptocurrencies earn seed and prime investments as they launch their ideas and business models. You may have heard that venture capital financing has slowed down somewhat. That may be true, but 2022 is already shaping up to be a record year for VC funding – and we are not even halfway there.

FTX will not freeze hiring amid layoffs at other cryptocurrencies, says the CEO

The bear market has been brutal in cryptocurrency exchanges and other blockchain-targeted companies. Amid heartbreaking stories of people accepting jobs at Coinbase only to have their offers withdrawn due to a job freeze, FTX’s derivatives exchange explained this week that its human resources department will continue to add staff. CEO Sam Bankman-Fried explained that his exchange will “continue to grow” despite the so-called crypto winter. In fact, the CEO said he had no plans to downsize. “We are going to keep pushing ourselves,” he tweeted. Maybe it’s time to consider a career in cryptocurrency derivatives?

PayPal allows you to transfer digital currencies to your external wallet

When PayPal launched its cryptocurrency service in October 2020, the company provided a huge market incentive by sucking up the available supply of newly minted Bitcoin (BTC). Now, finally, the international payment service provider allows users to transfer, send and receive cryptocurrencies between PayPal and external wallets and stock exchanges. Of course, the service is currently only available to US residents. You may also be curious to know that PayPal is still actively exploring the creation of its own stablecoin – at least according to the source code of the company’s iPhone app.

Before you go! Can the merger save Ethereum from ETH Killers?

There are many reasons for Ethereum 2.0’s successful deployment. In this week’s marketing report, I sat down with other analysts Jordan Finneseth, Marcel Pechman and Benton Yuan to explain what exactly Eth2 entails and whether competitors such as Solana (SOL), BNB, Cardano (ADA) and Avalanche (AVAX) can really – Ethereum’s throne as the largest smart platform. What do you think – do they have a chance? Take a recording of the discussion below and tell us what you think.

Crypto Biz is your weekly pulse of the company behind the blockchain and cryptocurrencies delivered directly to your inbox every Thursday.