PayPal launches new stablecoin

But is it worth the hype?

Dear Reader, Should we be "happy" that PayPal launched a new stablecoin? Some say yay. Others say nay. Here's the scoop… On the bright side, PayPal USD could spearhead adoption of Ethereum. Which sounds really great until you peel back the layers.  The problem is the stablecoin's smart contract code. Because it's built with what's called a "centralisation attack vector". That's techy-speak and it means the stablecoin is…  Designed to allow PayPal to freeze and even wipe out funds.  Sure sounds a whole lot like central bank digital currency. Don't you think? Digital asset lawyer Sarah Hodder does.  But there's more… PayPal can even change the smart contract at any time. (No free market action for you!) Bottom line: PayPal's new stablecoin is censorship-riddled. Another centralized coin controlled by powers who like to be in control. If you want to take back control of your crypto investing… We suggest checking out Cointelegraph Markets Pro. It's the one platform that gives you control over your trades.   Regards, Russell DeCorte Director Markets Pro © 2023 COINTELEGRAPH MARKETS PRO COINFIDENTIAL. Copyright © 2023 Cointelegraph Markets Pro, All rights reserved. You are receiving this email because you opted in at our website. Our mailing address is: Cointelegraph Markets Pro 21 W 46th St New York, NY 10036-4119 Add us to your address book Want to change how you receive these emails? You can update your preferences or unsubscribe from this list.