HomeUncategorizedHere’s what happened in crypto today By Cointelegraph

Here’s what happened in crypto today By Cointelegraph

August 9, 2023

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Crypto exchange Binance sold its (USDC) reverses for (BTC) and Ether (ETH) amid the collapse of Silvergate Bank, reveals latest proof-of-reservers data. Cryptocurrency trading activity via Telegram bots has surged in recent weeks, according to new research from Binance. PayPal (NASDAQ:) launched a new US dollar-backed stablecoin called PayPal USD (PYUSD) — issued by Paxos Trust Co.

Binance’s latest proof-of-reserves (PoR) from Aug. 1 revealed that the crypto exchange converted its USD Coin (USDC) reserves into Bitcoin (BTC) and Ether (ETH) right after the collapse of Silvergate Bank.

Binance reserves balance between December 2022–June 2023. Source: Binance

PayPal USD is a boon for , not decentralization: Community

Year-to-date trading volume on Telegram bots has surged. Source: Binance Research