Weekly Recap: PayPal Stablecoin Launch; Bitcoin ETF Delay; SEC vs. Ripple Update

The team breaks down why PayPal’s launch of its PYUSD stablecoin was such big news. They also share their opinions on some of the other most important news from the past week, including the SEC’s bitcoin ETF decision and the launch of Coinbase’s Base.

Key Takeaways 

1. PayPal launched a stablecoin that’s redeemable 1:1 for U.S. dollars. An encouraging development given PayPal halted this project earlier in the year due to regulatory uncertainty.
2. As expected, the SEC delayed a decision on the ARK 21Shares Bitcoin ETF application. Next deadline is November 11.
3. The SEC plans to appeal a recent court decision involving Ripple Labs. This was always a possibility, considering the case’s potential consequences on the various lawsuits the SEC currently has against crypto businesses.