PayPal partner Paxos reportedly overpaid $510,750 in the largest ever USD-Bitcoin transaction fee, in a mistakenly over-inflated fee for a single crypto transfer. The incident has drawn attention to the potential of fee errors in cryptocurrency trades.
An analyst claims that Tether’s USDT, a stablecoin backed by the U.S. dollar, has an “unstable peg” and does not effectively eliminate volatility. They allege that this could have implications for the entire cryptocurrency market.
Binance.US, a leading crypto exchange, has just announced a partnership with MoonPay, allowing customers to securely purchase digital currencies with USDT. This new feature is key to empowering more mainstream users to access the decentralized financial system.
PayPal is causing waves in the crypto world with its recent launch of its new U.S. dollar-backed stablecoin – the first of its kind for a major payment service provider. While it promises fast and cheap payments, some experts are expressing concern around the cryptocurrency’s centralised nature and lack of user control.