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Main Cryptocurrency News on the Morning of October 3📌
The payment service MoonPay has integrated the PayPal USD (The payment service MoonPay has integrated the PayPal USD (
PYUSD) stablecoin. The coin can be used to pay for orders in all supported countries, except for Canada.) stablecoin. The coin can be used to pay for orders in all supported countries, except for Canada.
💵 MoonPay added support for
PYUSD following a strategic integration with PayPal, which was announced by both parties in May 2024. PayPal USD is a dollar-backed stablecoin. At one point,
PYUSD's market capitalization exceeded $1 billion, but by September 2024, it had declined to $705 million.
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The U.S. Securities and Exchange Commission (SEC) has filed an appeal against the previous court ruling in the case of the cryptocurrency project Ripple. The commissioners believe that the court's decision contradicts numerous precedents and securities laws.The U.S. Securities and Exchange Commission (SEC) has filed an appeal against the previous court ruling in the case of the cryptocurrency project Ripple. The commissioners believe that the court's decision contradicts numerous precedents and securities laws.
✏️ It is worth noting that in August 2024, the court ordered Ripple to pay a fine of $125 million, which is significantly less than the $2 billion requested by the Commission. Previously, in July 2023, a judge ruled that XRP token sales to retail investors were legal. However, the court still considered institutional token sales to be in violation of securities law. The SEC's attempt to reassert its stance did not come as a surprise to the crypto community.
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Tron generated record revenue of $577 million in the third quarter of 2024, surpassing Bitcoin and Ethereum in quarterly earnings.Tron generated record revenue of $577 million in the third quarter of 2024, surpassing Bitcoin and Ethereum in quarterly earnings.
According to Tronscan, 74% of the revenue came from staking, while 26% came from token burning. The main increase in income was due to Tron’s entry into the meme coin market and heightened interest in stablecoins.
🥈 The Tron network ranks second in terms of stablecoin volume after Ethereum, controlling nearly 35% of the market. It hosts $62 billion in stablecoins, 98.3% of which is in USDT. Additional revenue growth for the network was driven by the launch of the SunPump meme coin, which brought in $5.4 million since its launch in August.
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