Coinbase’s New 'Base' Blockchain Goes Live; Rep. Maxine Waters Is 'Concerned' About PayPal's Stablecoin

A lawmaker sounds the alarm on paypal's stable coin move and there's a new crypto show on the block. You're watching Coin desk daily. I'm your host, Jenna Coin Base layer two network base is officially open to the public. The exchange says its Blockchain is the first to be launched by a publicly traded company. Its mission is to bring the next million builders and billion users on chain to accelerate DFI to the layer two network has launched a web three festival called on chain Summer that will see web three activations across art, gaming and music. Big names like Coca Cola Atari and friends with benefits will join more than 50 brands participating in the festivities. Congresswoman Maxine Waters says she is quote deeply concerned unquote that paypal has chosen to launch its own stable coin without a federal framework for regulation in place. The lawmaker noted that paypal has 435 million active accounts, which is more than the number of online accounts of all the largest banks combined. This is the first time a global payments firm has issued its own stable coin. A new crypto show mixes parts of the apprentice with Shark Tank 16 crypto enthusiasts are competing for a six figure prize package in a new competition reality series called the next crypto gem. The show will make its debut next month with its executive producer telling Coindesk that one goal is to bring in mainstream adoption and to make crypto interesting and entertaining and Bitcoin is pairing some gains after breaking above $30,000 earlier today, as investors wait for July's consumer price index that's scheduled to be released on Thursday. That's wrap for coindesk daily. Get more updates on coindesk dot com and we'll see you next time.