The Daily: Ripple CEO says US won’t return to hostile Gensler era crypto climate, Paxos mistakenly mints 300 trillion PayPal USD on Ethereum, and more - The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.

Paxos Draws NYDFS Attention As $300 Trillion Minting Error Exposes Stablecoin Risks - Paxos’ accidental minting of $300 trillion in PYUSD triggered regulatory alarms and reignited debate over proof-of-reserve mandates—underscoring that the stablecoin industry’s biggest threat may be human error, not hacks.The post Paxos Draws NYDFS Attention As $300 Trillion Minting Error Exposes ...

Paxos mistakenly mints $300 trillion PYUSD on Ethereum, citing tech error - The company said it has since burned the excess tokens, and that the root cause of the incident has been addressed.

Paxos Mints and Burns $300 Trillion PYUSD on Ethereum - The accidental move briefly made PayPal’s PYUSD the largest stablecoin in the world before Paxos burned the newly minted supply.

Ripple CEO Bashes Wall Street Bank Opposition of Fed Master Accounts for Crypto - Brad Garlinghouse, the CEO of Ripple Labs, called out the Wall Street banking lobbyists who have sought to resist the movement of his company and other crypto firms into the banking sector and into the Federal Reserve's so-called master accounts. The crypto sector "should be held to the same stan...

Tool Tip: Building a Coin Ecosystem with Flaunch Groups - Flaunch now supports token imports and Groups. Let's break down why these resources are compelling.

Walmart’s OnePay to Add Crypto Trading and Custody - Walmart’s OnePay is reportedly preparing to introduce in-app crypto trading and custody powered by Zerohash, joining leading fintechs like PayPal and Cash App in offering integrated digital asset services.The post Walmart’s OnePay to Add Crypto Trading and Custody appeared first on BeInCrypto.

US Government Shutdown: 3 Altcoins That Will Rewrite History - Unlike the 2018 shutdown, these three tokens are showing strength. These altcoins now eye major resistance levels despite uncertainty.The post US Government Shutdown: 3 Altcoins That Will Rewrite History  appeared first on BeInCrypto.

Solana finalists: Ignition Demo Day at Singapore Token2049 - Stablecoin, DePIN and robo-advisor teams made the finals

PayPal’s PYUSD Surges to New All-Time High After Spark Partnership - The stablecoin’s market capitalization has increased by 42% this week.

SoftBank, Ark May Back Stablecoin Giant Tether in Massive Funding Round: Report - The stablecoin issuer is seeking to raise up to $15-$20 billion for a 3% stake. Ark Invest and Softbank are in discussions to participate.

PayPal and Spark target $1B liquidity boost for PYUSD - The plan is to scale PayPal USD with Spark’s liquidity framework, building sustainable stablecoin markets

Cloudflare unveils NET Dollar stablecoin for AI internet economy - The company introduced a dollar-backed stablecoin to power instant payments and microtransactions for AI-driven web platforms

PayPal Taps Spark to Boost PYUSD Liquidity by $1B Through DeFi Lending - PayPal and decentralized finance platform Spark have teamed up to grow liquidity for PayPal USD (PYUSD) onchain, aiming to scale deposits from $100 million today to $1 billion in the weeks ahead.PYUSD, issued by Paxos and pegged to the U.S. dollar, was recently onboarded to SparkLend, Spark’s len...

KiteAI: Building the Agentic Economy - KiteAI has emerged as a specialized Layer-1 blockchain purpose-built for the agentic internet, securing $33 million in funding led by PayPal Ventures and General Catalyst to bridge Web2 merchant networks with Web3 rails. Its core innovations; the Kite Passport for verifiable agent identity and pe...

Tether Looking to Raise Up to $20B, Bringing its Valuation to $500B: Bloomberg - Stablecoin giant Tether is looking to raise between $15 billion and $20 billion for about a 3% stake in the company through a private placement, Bloomberg reported, citing two people familiar with the matter.The massive raise would bring its valuation to around $500 billion, putting it in the sam...