Hey there, fellow crypto enthusiasts! 🚀 So, guess what? Coinbase, yes, the big crypto player, just went all-in with a super cool move. They’ve unleashed Base, a total game-changer Ethereum layer-2 network! And hold up, it’s like the first of its kind from a public company. 🤯 Is this the dawn of a crypto revolution? Dive into the deets in Protocol Village’s latest buzz.
And, like, wait for it… Curve, the wild ride in decentralized stablecoins, had a near-disaster! 😱 Our dude Sam Kessler breaks down the crazy two weeks and spills the tea on the lingering risks the crypto world still needs to deal with. Yikes!
Ready for a deep dive into crypto-tech? Well, you’re in the right place! This is The Protocol, your weekly guide to cracking the crypto code, one block at a time. Hit that subscribe button to level up your crypto IQ every week. 🤓
🌐 Network Buzz 🌐
Hold the phone, peeps! PayPal just dropped a bombshell. They’re rolling out their own stablecoin, PayPal USD (PYUSD), backed by cold hard cash and even short-term Treasuries! 🤑 But here’s the twist – it’s riding on the Ethereum blockchain, using ERC-20 style. Oh, and guess who’s the real MVP behind this? Paxos! They’re putting their stablecoin wizardry into play. Although, TBH, their OG stablecoin Pax dollar (USDP) kinda didn’t hit it big like Tether and Circle’s USDC. But wait, there’s more! X (aka Twitter) is flooded with brainy nerds dissecting the code. 🤓 Scammers are on the loose, too, cloning PayPal’s moves. Can PayPal’s rockstar entry light a fire under Uncle Sam’s chair for stablecoin rules? And, peep this: PayPal might be eyeing some cool interest revenue from your deposits. Cha-ching! 💰
Hold up, Huobi, we see you! The exchange with the Tron connection is having some ups and downs. Stablecoin reserves taking a dip? Like, $49 million less in a week! But don’t panic, the police weren’t at the door (well, according to Huobi). And then, whoosh, a crypto whale threw a big chunk of cash – over $200 million! But surprise, surprise, it’s not Justin Sun’s piggy bank. 🐳
Open-source drama alert! Matter Labs, the cool cats behind Ethereum’s layer-2 network zkSync, got called out by Polygon. Copycat accusations, y’all! But hold your horses, it’s not black and white. Matter Labs fessed up, but they swear they gave credits. Then, their CEO got real and admitted they could’ve shouted it from the rooftops louder. Lesson learned, fam: the open-source street can be a wild ride!
In other news, Nairobi had some action! Kenyan police crashed Worldcoin’s party, raiding their iris-scanning headquarters. Not cool, dudes. Meanwhile, LinksDAO is making moves – they’re snagging golf courses in Scotland. 🏌️♂️ Oh, and check out David Rubenstein, the billionaire big shot, spilling the tea on Bitcoin. He’s all about that BTC life!
💸 Protocol Village 💸
Money Moves:
📈 DeFi’s in a bit of a freeze, fam. Messari’s saying total value locked (TVL) is taking a hit. Ethereum’s playground lost 13% TVL in 30 days! But Optimism and Solana are flexing those muscles. 💪
So, there you have it, crypto crew! We’re diving deep into Coinbase’s bombshell move, PayPal’s wild stablecoin entry, and some spicy exchange action. Stay tuned for more crypto adventures next week! 🌟🚀
