Coin circle news focus:

  • PayPal receives SEC subpoena! Are stablecoins destined to become a regulatory thorn?

  • Fidelity executive calls Bitcoin ‘index gold’

  • Solana surges 500% from bottom, Arthur Hayes: Still buying it

The currency circle boss said this:

  • Phyrex: "Bitcoin is expected to surpass history! There are many investment opportunities before and after the bull market"

Critical hit chance this week:

  • 🚀《Investing in Blockchain from Scratch》|〈Binance〉x〈Chain Apprentice〉Collaboration Lecture

Prices of Bitcoin and other cryptocurrencies | CoinGecko Top 100 Cryptocurrencies (2023.11.02 AM 08:00 ~ 2023.11.03 AM 08:00

Coin News Focus

PayPal receives SEC subpoena! Are stablecoins destined to become a regulatory thorn?

PayPal, the world's leading financial payment giant, launched its own U.S. dollar stablecoin PYUSD in August this year, becoming the first large financial technology company to use a self-developed stablecoin for payment and transfer. However, three months after the stablecoin was launched, PayPal officially disclosed in its third quarter financial report that the company had received a subpoena from the U.S. Securities and Exchange Commission regarding PYUSD, requesting more relevant documents.

Since its launch, PYUSD’s market capitalization reached US$150 million within two months of listing. It is true that there is still room for growth in market share. In view of the potential growth of PayPal's existing users, the industry is still looking forward to its development.

 

Fidelity executive calls Bitcoin ‘index gold’

Bitcoin has experienced a surge recently and is currently trading between $35,000 and $34,000. Jurrien Timmer, head of global research at Fidelity, believes that Bitcoin is a commodity that aspires to be a store of value and a hedge against currency devaluation. Think of it as index gold.

Jurrien Timmer said that under the current financial structure, gold tends to perform well when inflation remains high, real interest rates (the base rate that deducts inflation) are negative, or money supply growth slows, and Bitcoin has this quality. The potential is there.

 

Solana surges 500% from bottom, Arthur Hayes: Still buying it

Arthur Hayes, former CEO of Bitcoin derivatives exchange BitMEX, said that he recently bought Solana’s native token SOL and was optimistic about its performance. He said on Twitter: "This coin, which is closely related to FTX founder SBF, is basically a meme coin, but I still want to buy it!"

The SOL coin price has risen 500% in the past 11 months, and Arthur Hayes is still buying at the highs, echoing asset management firm VanEck’s prediction of a 10,600% forward SOL coin.

 

Other currency news

  • Hong Kong’s cryptocurrency regulation continues to advance, and tokenized securities will be applicable to traditional securities regulation, including company financial reports, investment offers and other regulations.

Full version of Lian Xi’s birthday report

Watch the boss’s views and critical attack opportunities this week

Welcome to the "Chasing Current Affairs" section of "Chain Trainee" --> "Chasing Current Affairs"!