ChainCatcher news, "Crypto Tsar" David O. Sacks has been appointed by Trump as the White House Director of Artificial Intelligence and Cryptocurrency. As one of the co-founders of PayPal and a well-known investor in Silicon Valley, Sacks has long held a positive attitude towards cryptocurrency. The projects he follows on Twitter cover multiple key areas of the cryptocurrency ecosystem, including Bitcoin, the Ethereum ecosystem, decentralized finance (DeFi), Layer 1 and Layer 2 solutions, and more. In addition to some top projects that have received significant funding, such as Solana (SOL), Filecoin (FIL), and Tezos (XTZ), Sacks also pays attention to innovative projects focused on specific areas, such as the prediction market Augur (REP, $5.3 million funding), the digital identity platform Civic (CVC, $35.75 million funding), and the decentralized governance platform Aragon (ANT, $26 million funding). Furthermore, Sacks's focus on infrastructure projects is particularly evident, including Cosmos (ATOM), Gnosis (GNO), and Lisk (LSK). Given Sacks's influence in Silicon Valley and the crypto space, the projects he is interested in are likely to gain more attention and development opportunities in the future, especially in his new role as the White House Director of Artificial Intelligence and Cryptocurrency.David O. Sacks demonstrates strategic insight into the crypto industry through his venture capital firm Craft Ventures. The portfolio of Craft Ventures covers multiple key areas, particularly the Bitcoin ecosystem. Notably, its investment in the decentralized exchange dYdX (DYDX) has surged by 18.27% in the past 24 hours, while the decentralized domain project Handshake (HNS) has skyrocketed by 75.73%. Additionally, Craft Ventures has invested in several Bitcoin-related projects, including Lightning Labs, River Financial, and Fold. This investment strategy focused on the Bitcoin ecosystem resonates with Sacks's previously emphasized vision of Bitcoin as the "new world currency."

ChainCatcher news, according to official sources, Binance has announced a new batch of executives for its compliance team, including:Former PayPal executive Todd McElduff as Director of Corporate Compliance;Former Kraken Head of Risk and Compliance and UK Chief Compliance Officer Lana Sinelnikova as Director of Business Compliance and Enterprise-Wide Risk Assessment (EWRA);Former cryptocurrency professional investigator and trainer Céline Inial as Special Investigation Expert for the French market;Caner Akyürek, who held senior positions at Europol, as Special Investigation Expert for Turkey;Former HSBC Hong Kong Wealth and Private Banking Senior Compliance Manager Pauline Chan as Regulatory Audit and Examination Compliance Expert for Binance's Global Audit Issues Management Team.

ChainCatcher news, according to Jin10 reports, payment giant Paypal stated that there is currently a system issue that may affect multiple products.

ChainCatcher news, according to official sources, Ondo Finance announced the launch of an instant exchange service for Ondo short-term U.S. government bonds OUSG and PayPal's dollar stablecoin PYUSD, aimed at further enhancing the redemption liquidity of OUSG and expanding the utility of PYUSD as a source of liquidity for real-world assets (RWA).

ChainCatcher news, according to The Block, Detroit city officials announced on Thursday that the city will become the largest city in the United States to accept cryptocurrency payments. Residents will be able to use cryptocurrency to pay taxes and other city fees through a secure platform managed by PayPal.Finance Director Nikhil Patel stated that this option will be launched in mid-2025, and further improvements to city payment services will also be made. This is part of a larger strategy for the city of Detroit aimed at exploring innovative technologies that can enhance public services, strengthen citizen engagement, and promote economic growth.

ChainCatcher news, according to The Block, PayPal's stablecoin PYUSD has been losing market share since it reached a market cap of over $1 billion at the end of August (when it was the fourth largest stablecoin). The current market cap of the token is $618 million, a decline of 40% over the past month and a half. The Solana-based PYUSD now has a market cap of approximately $267 million, down from the over $600 million peak it reached in August. Meanwhile, over $350 million worth of PYUSD tokens are circulating on Ethereum.The growth of this stablecoin has largely been attributed to PayPal's partnership with the Solana lending market Kamino Finance, which agreed to pay high yields subsidized by the payments giant to PYUSD holders. In recent weeks, the yield on PYUSD deposits on the lending protocol Kamino has dropped from around 17% to below 7%. The Solana-based protocols Drift and Marginfi, which also offered double-digit annualized rewards to PYUSD holders, have also been impacted. However, this trend may reverse. On Tuesday, Kamino added PYUSD to its "meme coin market," allowing users to borrow against positions in meme coins like WIF, POPCAT, and BONK. This arrangement will provide an additional $10,000 in PYUSD rewards to depositors each week. In contrast, lenders of PYUSD on the Ethereum-based decentralized exchange Aave are currently earning about 4.3%.During a similar six-week period, the market caps of the two major stablecoins USDT and USDC have remained relatively stable. Since August 31, Tether's stablecoin market cap has increased by $1 billion, while Circle's token market cap first increased by $2 billion and then decreased by $2 billion.

ChainCatcher news, according to Bloomberg, PayPal has completed its first commercial transaction using its PYUSD stablecoin. The Silicon Valley-based digital payment company stated that it paid an invoice to the multinational accounting firm Ernst & Young. PayPal relied on an enterprise-grade digital currency hub to complete the transaction, with the payment amount unknown; the funds have been deposited into the accounting firm's Coinbase account.PayPal's Market Development Director Steve Everett said, "B2B payments have matured and can be innovated, and digital currencies can provide incredible value in these use cases."

ChainCatcher news, according to official information, OKX will launch PayPal USD (PYUSD) spot trading. The specific times are as follows:PYUSD deposit opening time: October 3rd, 5:00 PMPYUSD auction time period: October 3rd, 7:00 PM to 8:00 PMPYUSD/USDT spot trading opening time: October 3rd, 8:00 PMPYUSD withdrawal opening time: October 3rd, 6:00 PM

According to ChainCatcher news from the official website, payment giant PayPal has announced the launch of PayPal Complete Payments in China. This is a secure and efficient integrated platform that combines a range of customized products and solutions to support Chinese merchants in selling globally. The platform simplifies the payment and receivables processes for businesses of all sizes in China, promoting their development in cross-border trade and the digital economy. PayPal will leverage global resources to gradually roll out new features of PayPal Complete Payments, fully supporting cross-border transactions for Chinese enterprises.It is reported that in terms of payment experience, the platform offers a variety of payment options for overseas buyers, allowing businesses to achieve quick fund transfers and manage their finances more simply and efficiently. Additionally, the platform provides a one-stop cross-border RMB payment solution, which includes "PayPal Cross-Border Receivables" and "PayPal Cross-Border Payments" products, helping PayPal users address the challenges of traditional cross-border receivables processes, which are often cumbersome, lengthy, and costly. Furthermore, in terms of risk management and fraud detection, the platform employs big data, machine learning, and artificial intelligence technologies to reduce risk handling costs, minimize dispute resolution times, and monitor and identify potential fraudulent activities in real-time.

ChainCatcher news, according to Cointelegraph, Wormhole has initiated a new proposal in the Curve governance forum, suggesting to reduce the collateral cap for crvUSD's TUSD to zero "to completely eliminate exposure to TUSD" due to regulatory risks and solvency issues.The proposal also suggests reducing the mintable amount of PayPal's stablecoin PYUSD from $15 million to $5 million, "thus making the reliance on each PegKeeper suitable for the importance of their respective pools." Currently, the main collateral for minting crvUSD also includes ETH and WBTC.Previously, on September 24, the U.S. SEC reached a settlement regarding allegations of fraud against TrueCoin and TrustToken involving unregistered sales of investment contracts related to TrueUSD. The allegations claimed that 99% of TUSD's reserve funds were invested in high-risk offshore funds, raising concerns about its safety and solvency.

ChainCatcher news, payment giant PayPal has announced the expansion of its cryptocurrency services, allowing U.S. merchants to conduct on-chain transfers.PayPal's Vice President of Blockchain and Cryptocurrency, Jose Fernandez da Ponte, stated that this move is to meet the growing demand from merchants for cryptocurrency capabilities. The new feature enables merchants to make external cryptocurrency transfers to third-party qualified wallets and to send and receive supported cryptocurrency tokens between external blockchain addresses.

ChainCatcher news, at the Solana Breakpoint 2024 conference, PayPal's blockchain strategy and cryptocurrency head José Fernández stated that Ethereum is not the best solution for the payments space, which is also the reason why PayPal chose to issue stablecoins on the Solana network.Fernández pointed out that Solana offers token scalability, lower transaction costs, and the ability to process 1,000 transactions per second, making it very suitable for mainstream adoption.

ChainCatcher news, according to official news, Tether announced the appointment of Jesse Spiro as the Head of Government Affairs, responsible for leading policy development and collaboration with legislators, regulators, and key stakeholders.It is reported that Jesse Spiro previously served as the Head of Regulatory Relations for PayPal's blockchain and digital currency business, and before joining PayPal, he was the Chief Government Affairs Officer at the leading blockchain analytics company Chainalysis.

ChainCatcher news, Ethereum Name Service (ENS) announced that PayPal and Venmo have integrated ENS into their payment platforms. When sending cryptocurrency on PayPal or Venmo, simply enter the ENS domain name, and the platform will automatically resolve it to the wallet address. This feature will be initially available to users in the United States.