PayPal to roll out Cryptocurrencies Hub for select users
1 min read
Payments giant PayPal,
The launch of PayPal USD divided the crypto community as contradicting speculations around its impact on crypto took center stage.
This is the Ethereum contract address for PayPal’s stablecoin.
I can’t believe i get to tweet that.
We’ve come so far. pic.twitter.com/S6kSqcV4ut
— RYAN SΞAN ADAMS – rsa.eth (@RyanSAdams) August 7, 2023
While many envision PYUSD to fast-track Ether’s (ETH) mainstream adoption, it could also spell trouble for decentralization and personal control of assets, warns the community. Several smart contract auditors highlighted that PYUSD’s smart contract contains “freezefunds” and “wipefrozenfunds” functions, which they claim are textbook examples of centralization attack vectors in Solidity contracts.
