As centralized stablecoins repeatedly break their pegs during market stress, a new wave of crypto-collateralized alternatives has emerged

Beyond the peg: Synthetic dollars are reshaping stablecoins | Opinion

Dogecon continues to look toward a rebound despite the market sentiment. This 
has been strengthened by the increased market participation and rise in the 
Bitcoin price over this time. As bulls continue to dominate the market now, it 
could mean an end to the downtrend that began in January 2025, and the 
beginning of a recovery that could see the Dogecoin price reach new all-time 
highs. Dogecoin Price Is Hitting A New Bottom According to pseudonymous crypto 
analyst Master Ananda, the Dogecoin price is going through a classic 
resistance-turned-support dynamic, which could trigger a rally. This began 
back in 2024 when the Dogecoin price hit new local peaks, but given that the 
Dogecoin price is trading at what is expected to be the 2025 bottom, this 
could be good news for the meme coin. Related Reading: Ethereum At $9,200, XRP 
At $5,800, And Solana At $3,400? Analyst Says This Is Not Possible As the 
crypto analyst points out, the Dogecoin price has undergone a perfect 3-3-5 
correction pattern based on a complex ABC wave. At the same time, the market 
action, as well as the Fibonacci levels, could be showing the end of this 
correction. The thing about these types of corrections is that once they are 
done, an impulse wave tends to follow, which turns out to be a bullish wave, 
more often than not. “After the late 2024 bullish cycle, Dogecoin entered a 
classic correction,” the crypto analyst explained. “This correction started on 
the 08-Dec. &#8217;24 session and ended 07-Apr. &#8217;25, support was found in the mid- 
to late 2024 consolidation range and resistance zone.” Where Is The Price 
Headed From Here? With a breakout expected to follow the end of the ABC 
correction, the next targets have been placed at more than 100% by the crypto 
analyst. As Master Ananda explained, the Dogecoin price is currently on the 
verge of a maximum bullish momentum and growth. As such, there is a higher 
chance that the resultant surge could trigger a rise toward all-time high 
levels. Related Reading: Crypto Analyst Reveals When The XRP Price Will Reach 
$25 – It’s Not Far Off However, on the shorter timeframe, the crypto analyst 
points out a possible 333% rise from here. This would put the Dogecoin price 
above $0.4 and at the same time, put it on a path to beating $0.7 in the end. 
Additionally, the crypto analyst points out that the lack of action on the 
chart, as well as the muted trading volume, suggests that it is still very 
early for Dogecoin. When it eventually moves, it is expected to explode, 
especially as the leading meme coin. “Dogecoin is still trading at bottom 
prices, go for it, it is not too late,” the crypto analyst said in closing. 
Chart from TradingView.com

Dogecoin Price Rebound: Why DOGE Is On The Verge Of 333% Rally Toward $0.7

Payments behemoth PayPal plans to offer a 3.7% yield on balances held in its 
PayPal USD stablecoin.
According to an April 23 Bloomberg report, a PayPal representative said that 
the measure aims to encourage more usage of the firm&#8217;s stablecoin. The new 
program is purportedly expected to launch this summer, and the rewards will 
also be paid out in PayPal USD (PYUSD).
Users will be able to exchange PYUSD for fiat currency, spend it, or send it 
to other users. The rewards will accrue daily and will be paid on a monthly 
basis. Jose Fernandez da Ponte explained that the company hopes this feature 
will lead to a higher predominance of stablecoin and crypto payments on its 
platform.
The report follows PayPal USD reaching a $1 billion market cap in the summer 
of 2024. As of publication, the stablecoin&#8217;s market cap is nearly a quarter 
lower at $873.3 million.
_PayPal USD &#8216;s market cap chart. Source: __CoinMarketCap_
Tzahi Kanza, CEO of crypto investment firm Syndika, told Cointelegraph that 
&#8220;from a regulatory standpoint, PayPal must ensure that offering interest 
doesn&#8217;t cause its stablecoin to be classified as a security.&#8221; When it comes to 
financial risks for the users, he believes that PayPal can keep its promises, 
and the main risk is still losing the peg to the dollar and not interest- 
related issues. He said:
&gt; &#8220;Stablecoins that don&#8217;t offer yield are generally not considered securities. 
&gt; However, yield-bearing stablecoins may fall under that classification.&#8221;
_**Related:**__**PayPal&#8217;s Xoom launches cross-border stablecoin settlement**_
## PayPal is betting on crypto
PayPal is betting on blockchain technology with its continued product 
development. Reports from earlier in April show that PayPal has expanded its 
cryptocurrency offerings to include Chainlink (LINK) and Solana (SOL), giving 
US-based users the ability to buy, sell and transfer the popular tokens.
In fact, PayPal was cited by Polygon Labs CEO Marc Boiron as one of the 
catalysts for the stablecoin industry&#8217;s rapid growth in recent years. In an 
interview with Cointelegraph, Boiron said, &#8220;Companies like Stripe and PayPal 
integrating stablecoins is likely the primary catalyst for their growth.&#8221;
_**Related:**__**PayPal, Ernst &amp; Young settle first corporate payment via 
PYUSD stablecoin**_
## The story of PayPal USD
PYUSD is a US dollar-pegged stablecoin issued by Paxos Trust Company on behalf 
of PayPal in August 2023. At the time of the launch, PayPal became the first 
major payment network to launch its own stablecoin, with Venmo rolling out 
support in September 2023.
Each token is purportedly backed one-to-one by cash deposits, short-term US 
Treasury notes and similar cash-equivalent assets in accounts overseen by the 
New York State Department of Financial Services. Initially, PYUSD was a token 
compliant with the ERC-20 Ethereum standard, but has since also been deployed 
on Solana (SOL).
PayPal USD&#8217;s current market cap is still a far cry from the top stablecoin, 
Tether&#8217;s USDt (USDT). At the time of writing, CoinMarketCap data shows that 
USDT&#8217;s market cap stands at $145.32 billion, over 17,255% higher than PYUSD&#8217;s. 
Kanza said that &#8220;Tether&#8217;s strength lies in its market dominance &#8212; not in its 
regulatory compliance, transparency, or yield&#8221; since it does not offer those. 
He added:
&gt; &#8220;To compete effectively, targeting these three areas &#8212; compliance, 
&gt; transparency and returns &#8212; would be a smart strategy [for PayPal.]&#8221;
_**Magazine:**__**Chinese Tether laundromat, Bhutan enjoys recent Bitcoin 
boost: Asia Express**_

PayPal to offer 3.7% yield on stablecoin balances: Report

Richard Heart, the controversial founder of HEX, is claiming total victory 
over the US SEC after years of court battles.
On April 21, the SEC said that it would not amend and refile its fraud case 
against the former child actor and crypto evangelist. A court had dismissed 
the SEC&#8217;s fraud charges against Heart on Feb. 28.
Heart announced on X that HEX had obtained a victory very few crypto projects 
could boast: &#8220;Richard Heart, PulseChain, PulseX, and HEX have defeated the SEC 
completely and have achieved regulatory clarity that nearly no other coins 
have.&#8221;
HEX may be out of hot water with American securities regulators (for now), but 
Heart still faces charges in Europe, where he is wanted both for alleged tax 
fraud and for alleged assault on a minor.
_Richard Heart, real name Richard James Schueler, is still on Interpol &#8216;s 
wanted list. Source: __Interpol_
## SEC claimed Heart used HEX to defraud investors
In July 2023, the SEC filed a complaint against Heart, whose real name is 
Richard James Schueler, along with HEX, HEX&#8217;s layer-1 blockchain project, 
PulseChain, and the decentralized exchange (DEX) for the PulseChain network, 
PulseX.
The SEC made a number of allegations, including securities fraud and 
securities registration violations. It asked the court to bar Heart and his 
projects from participating in any sort of crypto asset security offering and 
to give up &#8220;all ill-gotten gains received as a result of the violations 
alleged.&#8221;
The complaint noted Heart&#8217;s repeated claims that HEX could offer incredible 
rewards to make investors rich. It also wrote that Heart spent over $12 
million of proceeds from HEX offerings on luxury goods such as watches, sports 
cars and a 555-carat diamond ring.
Indeed, Heart is no stranger to the finer things in life. His celebrity is in 
part due to his frequent displays of wealth. In one video on X, he flaunted 
Louis Vuitton cases filled with dozens of luxury watches that he said were 
worth 9 million euros.
_Richard Heart wears four Rolex watches. Source:__Luxury Bazaar_
Heart&#8217;s court case came down to jurisdiction. Last year, his legal team filed 
a motion to dismiss the case on the grounds that the SEC failed to show that 
any activities had occurred within the United States.
The SEC protested the motion. Ultimately, US District Judge Carol Bagley Amon 
agreed with Heart (the HEX founder does not live in the US), and she ruled 
that the statements regarding HEX&#8217;s price were targeted to a global audience 
&#8212; not US investors.
&#8220;The alleged misappropriation occurred through digital wallets and crypto 
asset platforms, none of which were alleged to have any connection with the 
United States,&#8221; Amon stated.
## Finnish authorities want Heart on tax and assault charges
Heart claims that this legal victory provides new ground on which the crypto 
industry can thrive, creating a legal precedent that supposedly makes HEX 
safer to work with than any other crypto project.
Heart and HEX may not face American securities regulators, but he is still in 
hot water with Finnish authorities over alleged tax evasion and assault.
In September 2024, Finnish media wrote that Heart, who was reportedly residing 
in Helsinki, was remanded into custody in absentia. Finnish investigators, at 
the request of the country&#8217;s tax authorities, were investigating Heart and 
reportedly found that Heart&#8217;s income reporting did not match the tax service&#8217;s 
estimates.
Helsinki police detective Harri Saaristol said, &#8220;Based on the very 
considerable amount of money in question and the long-term and planned nature 
of the activity, there are grounds to suspect gross tax evasion.&#8221;
_**Related:**__**Interpol issues &#8216;Red Notice&#8217; for Hex founder Richard Heart**_
In the course of their investigation, Finnish police seized millions of euros 
worth of luxury watches from a residence in the city of Espoo near Helsinki.
Europol also stated that Heart (referred to as Schueler in the report) is 
wanted for assaulting a minor. &#8220;Schueler physically assaulted a 16-year-old 
victim by grabbing their hair, dragging them into the stairwell and knocking 
them to the ground.&#8221;
The allegations together have earned him a profile on Europol and Interpol&#8217;s 
most wanted criminal lists. Investigations are ongoing.
## How long can HEX keep it up?
It seems Heart dodged US regulation because the SEC lacked jurisdiction rather 
than evidence. So, how long can he keep HEX going?
Industry observers and analysts have long claimed that HEX was a new form of 
Ponzi scheme, namely due to the promises of a whopping 38% annual percentage 
yield, larger profits for onboarding new users and the fact that Heart owned 
some 90% of HEX tokens.
Despite a number of committed acolytes on social media, the token seems all 
but dead. HEX&#8217;s price pumped briefly on news of the SEC dismissal. Zooming 
out, it&#8217;s barely moved since Heart&#8217;s legal troubles with the SEC began.
At publishing time, HEX&#8217;s price is $0.002253; 24-hour transaction volumes 
barely top $250,000.
_HEX &#8216;s price spiked in 2021 before nearly falling off by early 2023. Source: 
__CoinMarketCap_
 _**Magazine:**__**Former Love Island star &#8216;s tips on how to go viral in 
crypto: Van00sa, X Hall of Flame**_

Here’s how HEX’s Richard Heart beat SEC fraud charges

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