The New Crypto Economy: PayPal, AI, and Bitcoin Miners Going Wild!

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Oh, how the mighty have shifted! Crypto’s center of gravity is no longer confined to the thrilling rollercoaster ride of speculation. Now, it’s all about services, darling. PayPal, ever the trendsetter, is opening the door to peer-to-peer (P2P) cryptocurrency transfers, like your hipster barista handing you a latte with a side of blockchain. And did you know? Their stablecoin, PYUSD, has already surpassed $1 billion in market capitalization. Impressive, isn’t it? But we’re just getting started.

Google, the tech giant that never sleeps, is piloting a payment protocol designed to make AI agents as financially savvy as the next Wall Street banker. Yes, stablecoins are now invited to the AI party – dollar-pegged crypto is coming to the web economy, darling. If only Google could solve world hunger with a few lines of code…

Meanwhile, Bitcoin miners are feeling the pinch, darling. Rising costs, escalating difficulty levels, and fierce competition are making them sweat. But no worries, some are thriving by pivoting into data centers and AI infrastructure. Their stock prices are soaring higher than Bitcoin’s original value – which, let’s face it, isn’t saying much these days.

This week in Crypto Biz: PayPal’s P2P rollout, the hilarious economics of Bitcoin mining, Google’s AI payment escapade, and Bitwise’s bid for a new ETF focused on stablecoins and tokenization. Grab your popcorn, it’s going to be a bumpy ride!

PayPal Rolls Out P2P Crypto Transfers with New “Links” Feature

PayPal is expanding its peer-to-peer offerings, just when you thought they couldn’t get any more ubiquitous. US users can now send and receive cryptocurrencies directly within PayPal and Venmo, without bothering with external exchanges. The feature, affectionately named “PayPal Links,” generates one-time links that can be shared via text, email, or chat. It’s like sending a birthday card, except it’s filled with crypto and doesn’t get lost in the mail.

And just to keep things spicy, PayPal assures us that personal friends-and-family crypto transfers won’t trigger that pesky 1099-K tax reporting – though, other types of transactions may still find themselves at the mercy of Uncle Sam.

Welcome to PayPal World, where wallets and payment systems collide in a beautiful, digital symphony.

Bitcoin Miners Outperform BTC

So, Bitcoin miners are outperforming Bitcoin? That’s right, my friend. While Bitcoin’s price has slipped faster than my self-esteem after a bad haircut, shares of several major mining companies have surged. Cipher Mining (CIFR), Terawulf (WULF), Bitfarms (BITF), Hive Digital Technologies (HIVE), and Iris Energy (IREN) have each gained at least 73% in the past month. Now that’s a plot twist!

It seems that even as Bitcoin’s mining difficulty rises – hello, 4.1% increase in difficulty adjustment! – miners have pivoted to greener pastures like data centers and AI infrastructure. And their stock prices are reflecting that, climbing higher than that Everest of hope we all once had about Bitcoin.

Google Launches Open-Source AI Payment Protocol with Stablecoin Support

Google is at it again, revolutionizing everything from search engines to the very way AI pays for its morning coffee. The tech titan has unveiled a new open-source protocol allowing AI agents to accept payments, and yes, it comes with built-in support for stablecoins. Because, of course, AI needs to buy things too.

Developed in collaboration with Salesforce, American Express, and the like, this protocol is the future. A future where your AI assistant can buy you lunch with stablecoins, and maybe even send you a receipt. Created in partnership with Coinbase and the Ethereum Foundation, this initiative is supported by over 50 technology partners, including PayPal. It’s like a geeky Avengers team, only with more tech jargon and fewer capes.

Bitwise Eyes Stablecoin, Tokenization ETF

Crypto asset manager Bitwise is ready to launch a new ETF focused on stablecoins and tokenization. They’ve filed with the US Securities and Exchange Commission (SEC), hoping to track an index of companies in the sector. We’re talking stablecoin issuers, payment processors, crypto exchanges – basically, the who’s who of the blockchain world.

Stablecoins have become one of crypto’s largest use cases, with more than $300 billion circulating through the system. Meanwhile, tokenized assets are getting hotter than a crypto miner’s GPU in July. Wall Street giants like BlackRock and Franklin Templeton are making moves into this space, as if tokenizing your grandma’s favorite tea set was the next big thing.

Crypto Biz is your weekly pulse on the business behind blockchain and crypto, delivered directly to your inbox every Thursday. Because who doesn’t want more crypto in their life? 🤑

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2025-09-19 23:58