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Trust — white hat hacker and head of smart contract auditing firm Trust Security — shed some light on a peculiar feature of the smart contract powering PayPal’s new stablecoin PYUSD. In a recent tweet, Trust pointed out that they have “seen a lot of dunking on PayPal for using an ancient Solidity compiler.” Seen a lot of dunking on @PayPal for using an ancient Solidity compiler. Here's why I think it is actually a 200IQ move! pic.twitter.com/jYN5eRNiNT — Trust (@trust__90) August 8, 2023 As pointed out in a recent article, an Analysis of the smart contract revealed that the company used Solidity compiler version 0.4.24. Considering that version 0.4.24 of Solidity was released on May 16, 2018, shows that the version chosen by PayPal was ancient indeed. Still, this is not necessarily a bad thing. Trust explained that when choosing a Solidity compiler version, a programmer is looking for a compromise with the latest versions guaranteeing lower gas ...

The Securities and Exchange Commission (SEC) left many scratching their heads when it designated BUSD, a so-called stablecoin, as an unregistered security. The commission’s reasoning is complex yet intriguing — and raises questions about the classification of other stablecoins. The SEC has explicitly classified dozens of digital assets as SEC urities, including many ICOs like cardano (ADA), solana (SOL), ripple (XRP), algorand (ALGO), tron (TRX), and filecoin (FIL).  Interestingly, commissioners also classified Terra (UST), the failed stablecoin associated with Do Kwon’s Terra Luna (LUNA), as an investment contract. Many observers dismissed this securities classification without much thought, due to UST’s obvious collapse and algorithmic dependence on the hyperinflationary LUNA token. However, the SEC turned heads on Monday when it classified another stablecoin which still trades near $1 as an unregistered security: Binance’s BUSD. The stablecoin’s ecosystem...

Join Our Telegram channel to stay up to date on breaking news coverage The White House ought to think about adopting a bitcoin standard given that it recently released a National Security Strategy that emphasizes the value of digital currency. The race for bitcoin accumulation, the hardest and rarest asset in the world, is not too far off in the not too distant future, as the nation’s most hostile rivals actively pursue ways to de-dollarize the world while simultaneously publicly announcing, “the economy of imaginary wealth is being inevitably replaced by the economy of real valuables and hard assets.” Governments won’t prohibit Bitcoin. Instead, they will eventually engage in fierce competition for it, and those who have a higher share of the 21 million will be more strategically and economically dominant than their geopolitical rivals. Having stated that, the National Security Strategy (NSS) is a quarterly document created to convey the executive bran...