🚀 GM,
Grab your favorite beverage (even if it’s a little early, we won’t tell), and get ready for the juiciest headlines that have been lighting up the Internet this week! 📰
💰 Fake Lil Tay Coin Launched Following Announcement of Influencer’s Passing
😢Binance Achieves License in El Salvador, Signifying a Significant Achievement for Crypto Exchange
🌟Coinbase’s BASE Token: Is It a Money Printing Machine?
💰What PayPal’s Introduction of a Stablecoin Means For Finance
Fake Lil Tay Coin Released After Instagram Announcement of Influencer’s Death 🚀
Just hours after the verified Instagram account of the infamous influencer Lil Tay, real name Claire Hope, announced her tragic passing, a new cryptocurrency coin named “Lil Tay” was launched on the BNB Smart Chain. 😱🪙
The Lil Tay coin, with a total supply of 100 coins, made its debut on Thursday morning. 🌄 As of now, the creator behind this new digital currency remains unknown, and no one has come forward to take credit for its release. 🕵️♂️
Interestingly, Harry Tsang, Lil Tay’s former manager, revealed that he had plans to launch a Lil Tay cryptocurrency coin as well. He had even started developing the token back in April. However, he denied any involvement with the recently released Lil Tay coin and took down a Lil Tay token website he had previously launched earlier this year. Tsang also warned Twitter users about a potential scam related to the newly launched token. 🚫🐍
It’s worth mentioning that the news surrounding Lil Tay’s reported death remains unconfirmed, and the control of her Instagram account remains uncertain. 😶
In an email Harry Tsang stated, “Given the complexities of the current circumstances, I am at a point where I cannot definitively confirm or dismiss the legitimacy of the statement issued by the family. This situation calls for cautious consideration and respect for the sensitivities involved.” 🤔
Meanwhile, Lil Tay’s father, Christopher Hope, declined to comment on the Instagram post and refrained from confirming whether his daughter is still alive. 🙅♂️🤐
As a quick reminder, Lil Tay gained popularity at the age of 9, capturing attention with her controversial videos where she portrayed herself as “the world’s youngest flexer.” She collaborated with controversial YouTubers and sparked numerous discussions and media coverage. 🔥💵📹
Binance Obtains License in El Salvador, a Major Milestone for Crypto Exchange 🎉
The world’s largest cryptocurrency exchange, Binance, has just announced a significant milestone achievement in its global expansion. 🚀🌎
Binance revealed that it has obtained authorization from El Salvador’s central bank and its National Commission of Digital Assets. This accomplishment represents a crucial step towards gaining regulatory approval in key global markets. 🏦
Now, why is this a big deal? 🤔
El Salvador, under the leadership of its Bitcoin-loving President Nayib Bukele, made history by becoming the first country to declare Bitcoin as legal tender. 🇸🇻💰 Over the past few years, the local authorities have introduced numerous initiatives related to BTC and have even made significant purchases of the cryptocurrency on a macroeconomic level. 📈💸
By obtaining this license in El Salvador, Binance further solidifies its position as a key player in the crypto industry and demonstrates its commitment to global expansion in collaboration with regulatory bodies. This comes at a time when SEC has been brutally attacking Binance.
Now, onto some exciting news from Coinbase. They’ve launched BASE, their distributed blockchain network. This opens up a whole new revenue stream for Coinbase. 💸 Over $160 million of tokens have already been bridged to BASE since its launch, making it a lucrative opportunity for Coinbase. This was always part of their plan, as our bald boi Brian says. 😮
📈 BIG Week for Ethereum, thanks to… PLUS: BASE = Money printer for Coinbase? 🤑
DeLabs is packing up and leaving for a new chain…again! 😲 Where? Yep, you guessed it — Ethereum. 🥛
💸 New Money Printer: Coinbase has a new money printer, and it’s called BASE. This makes Coinbase the first listed entity to have a distributed blockchain network. Talk about a major source of revenue! 🌐
💸 Over $160 million of tokens have already been bridged to BASE since its launch, making it a lucrative opportunity for Coinbase. This was always part of their plan, as our bald boi Brian says. 🤷♀️
👉 Before going public, Base had already established itself as the fifth-largest layer 2 blockchain, with a whopping $134 million locked into apps and protocols on the platform. Talk about success! 💰
💡 Built on the Ethereum blockchain, Base offers users a range of fantastic features, including improved scalability, faster transaction speeds, lower gas fees, and robust security measures.
Editor’s Wrap: Innovation distinguishes between a leader and a follower
Let’s talk about a game-changing moment in history that happened on August 7, 2023. PayPal made an exciting announcement that they are launching PYUSD, and trust me, we’ll look back on this as the turning point in the crypto world. Why am I so confident about that? Let me explain! 🚀
Until now, most of the builders in the crypto space were focused on building “more crypto for crypto.” The industry revolved around exchanges, stablecoin issuers, and the blockchains themselves. The growth and evolution were largely within the crypto community, enabling users and builders to interact with each other using innovative technologies like ICOs, DeFi, and NFTs.
But this week, everything changed. PayPal, one of the world’s largest payments companies with over 430 million customers, has embraced blockchain technology in a big way. They’ve spent years building PYUSD, a product that will reshape their business model. And this is HUGE! 💥
Blockchains are a new form of economic organization, particularly public blockchains like the one PayPal is building on Ethereum. They provide an open, decentralized platform for exchanging value without relying on centralized intermediaries like banks. PYUSD brings us back to the original promise of blockchain: the ability for people anywhere in the world to exchange value with trust and without relying on traditional institutions.
With PYUSD, PayPal connects the power of blockchain to their existing platform. Now, users can easily send PYUSD to relatives, vendors, or employees around the world. And here’s the game-changer: PYUSD can be converted to traditional fiat currency, making it easily accessible and usable in the real world. This integration of blockchain and traditional finance expands the possibilities and increases the liquidity of PYUSD.
As more people and companies adopt blockchain technology, facilitated by the trustworthiness of PayPal and the battle-tested NYDFS standard for stablecoins through their partnership with Paxos, the shift towards faster, cheaper, and safer transactions will accelerate. Builders and companies who were hesitant or uncertain about crypto before can now confidently integrate PYUSD into their apps, protocols, wallets, or internal systems.
On the flip side, PayPal can abstract away the complexity of crypto for their customers, providing a seamless experience while upgrading their backend systems. This transformation will take time, but the snowball has been pushed from the top of the hill, and we’ll see the impact unfold over years or even decades.
💰SHIB’s Rally Continues: Here’s What You Need to Know (Shiba Inu Price Analysis)
🚀What’s behind PEPE’s sudden soaring popularity?
🔥SoFi Bank’s Crypto Holdings Surge to $170 Million, Including $ADA and $DOGE
Top Reddits This Week That Got Our Attention
Twice weekly crypto goodness, coming your way! Catch us every Tuesday and Friday. Mondays, read our All-In-One crypto newsletter. And hey, don’t forget to check us out on Wednesdays for all the latest AI news – because why limit yourself to just one kind of intelligence?
