Demex Daily #146: PayPal Adds 100+ Cryptos for U.S. Users via MoonPay

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PayPal has partnered with MoonPay to offer its 426 million U.S. users access to over 100 cryptocurrencies, expanding beyond its initial offerings of Bitcoin, Ethereum, and its own stablecoin, PYUSD. This integration signifies PayPal's commitment to the crypto market, emphasized by PYUSD's rapid growth and integration into PayPal's international transfer service, Xoom. This expansion comes amidst stringent regulatory scrutiny on cryptocurrencies by U.S. authorities.

The Eigen Foundation announced it will allocate an additional 100 EIGEN tokens (worth about $1,000) to over 280,000 users. This decision, increasing the total allocation to approximately $280 million, aims to address criticisms from the community regarding the initial airdrop's favoritism towards whales. The foundation is speeding up the broader distribution of EIGEN in response to feedback about high gas costs and other issues. EIGEN, currently trading at $10.11 on the Aevo exchange, will see investor and team member allocations locked for one year post-launch, with transfer restrictions intended to empower users through phased releases.