Hash #48: August 11, 2023 - PayPal/Paxos Stablecoin & US Credit Downgrade
This week, we'll discuss PayPal's decision to launch their own stablecoin and Credit Rating downgrade by Fitch and US bank rating downgrade by Moody's.
How does PayPal/Venmo look to gain from their new stablecoins? With what means are backing their stablecoin?
How will the average consumer benefit from using PYUSD?
What does the US Credit Rating downgrade mean and how does it impact the US economy?
What was the Treasury's response to Fitch's rating downgrade?
https://www.reuters.com/technology/paypal-launches-stablecoin-crypto-push-2023-08-07/
https://www.ft.com/content/fd072b20-f9c7-4e2b-b274-b2f13cbeae07
https://www.cbsnews.com/news/fitch-downgrade-us-debt-what-it-means-cbs-news-explains/