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The PayPal USD will be pegged to U.S. dollars and issued by Paxos Trust.

Trading volumes for the top Play to Earn (P2E) tokens have fallen by 98% in July, compared to the height of the bull market in November 2021.

The latest price moves in bitcoin (BTC) and crypto markets in context for August 2, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

The end of the tightening cycle does not necessarily imply a quick pivot toward zero interest rate policy, meaning animal spirits may not return to the crypto market anytime soon.

The Monetary Authority of Singapore has committed funding to, among other things, the support of fintech innovation — including web3.

Kenyan police raided Worldcoin’s Nairobi warehouse and confiscated documents and machines on Saturday.

The SFC said that license applicants who violate relevant regulations may not be granted a license under the new crypto regime.

Blockchain load – a measure of how much data is contained in blocks over a certain period – rose to 50% in the second quarter from under 40% in the first. It peaked at 81% in May.

Crypto exchange Huobi is seeing outflows as Hong Kong media reported Saturday that Chinese police apprehended at least three execs.

Observers in the crypto space were stunned when nd4.eth sent 2,500 ether ($4.5 million) to a burn address for currently unknown reasons.