Business

PayPal launched its USD stablecoin (PYUSD) on August 7, 2023, marking the first major traditional finance firm to issue its own token on public blockchains.

JPMorgan rebranded its blockchain division to Kinexys and expanded JPM Coin usage, processing over $1 billion daily in institutional transactions.

SVB's collapse on March 10 2023 initiated a banking crisis that eliminated three major crypto-friendly banks within days and tested stablecoin confidence.

Genesis Global Capital filed for Chapter 11 bankruptcy on January 19, 2023, owing $3.4 billion to creditors after the FTX collapse froze its lending operations.

ConsenSys has announced significant workforce reductions affecting up to 600 employees, representing approximately 50 percent of its total staff as the Ethereum-focused studio restructures operations.