Daily Brief: July 29, 2025
PayPal Crypto Push, Bitcoin Treasuries, Meme Coin Debate
PayPal's new 'Pay with Crypto' feature allows U.S. merchants to accept over 100 cryptocurrencies, making cross-border transactions cheaper and easier. Meanwhile, companies like Metaplanet and MicroStrategy are increasing their Bitcoin holdings, signaling a trend of using Bitcoin as a key financial asset. In a different arena, Solana's co-founder criticized meme coins and NFTs, sparking debate about their value and role in the ecosystem. These developments show the expanding influence and adoption of cryptocurrencies, while also highlighting ongoing debates about their long-term value.
💳 PayPal's 'Pay with Crypto' Empowers Merchants
PayPal has launched 'Pay with Crypto,' a feature that allows U.S. merchants to accept over 100 cryptocurrencies, including Bitcoin and Ethereum. This service works with popular wallets like Coinbase and MetaMask, making crypto transactions straightforward.
The service automatically converts crypto payments into PayPal's PYUSD stablecoin and then into U.S. dollars, ensuring quick settlements with low fees. Initially, transaction fees are capped at 0.99%, but they will rise to 1.5% after a year.
By incorporating crypto payments, PayPal aims to cut cross-border transaction costs by up to 90%, boosting merchant profitability. This move supports global commerce by simplifying international payments for businesses.
Why it matters: This development lowers barriers for small businesses to adopt cryptocurrency payments, fostering wider crypto adoption and enabling more efficient, borderless commerce on a global scale.
📈 Corporate Bitcoin Treasuries on the Rise
Metaplanet, a Tokyo-listed firm, has boosted its Bitcoin holdings by acquiring 780 BTC, bringing its total to over 17,000 BTC. This is part of a larger strategy to reach 100,000 BTC by 2026. The company funds these purchases through capital market activities like stock issuances and bond redemptions. This ambitious plan relies on continued investor interest in Metaplanet's securities.
MicroStrategy, led by Michael Saylor, has been a trailblazer in corporate Bitcoin accumulation. The company holds over 607,770 BTC, which is about 2.9% of the total Bitcoin supply. Their strategy involves continuous buying, regardless of price changes, reflecting a strong belief in Bitcoin's long-term value. This approach has influenced both traditional and crypto markets.
Bitcoin miner MARA has also joined the ranks of major corporate Bitcoin holders. The company raised $950 million to purchase more Bitcoin, bringing its holdings to 50,000 BTC. MARA plans to adopt a 'HODL' strategy, committing to never sell its Bitcoin. This reflects a broader trend among crypto firms to use Bitcoin as a strategic financial asset.
Why it matters: These corporate strategies highlight a growing trend of using Bitcoin as a key financial asset, potentially influencing market dynamics and encouraging wider institutional adoption.
💬 Solana Co-Founder Critiques Meme Coins
Anatoly Yakovenko, co-founder of Solana, has stirred controversy by calling meme coins and NFTs "digital slop" with no intrinsic value. His remarks sparked a debate with Jesse Pollak from Coinbase, who argued that these digital assets hold value, particularly for creators. Despite Yakovenko's criticism, Solana's ecosystem heavily depends on meme coins, with platforms like Pump.fun generating significant revenue.
Pump.fun, once a major player in Solana's meme coin scene, has experienced a sharp decline in its market share and revenue. Traders are moving to newer platforms like LetsBonk, which now leads in token deployments. This shift underscores changing trader preferences and the challenges Pump.fun faces in maintaining its position.
Yakovenko's strong stance on meme coins and NFTs has sparked outrage and debate about their role in Solana's growth. While he dismisses them as digital junk, these assets are crucial for Solana's revenue, making up a significant portion of its decentralized app income. The debate over their cultural and economic value continues.
Why it matters: This discussion highlights the tension between speculative trends and sustainable growth, showing how meme coins and NFTs can drive adoption but also pose long-term challenges.