Base

Why wouldn’t PayPal focus PYUSD liquidity onto Base? 

Combining the Venmo experience with Coinbase Smart wallet seems natural. They win volume/users (on PYUSD) and Coinbase wins on platform provision. 

Feels like this is obvious? Or just dumb?

you probably don’t think about liquidity enough // it is what it is  // build value, not valuation

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All of PayPal's crypto push is hilariously vague and useless as Venmo requires KYC to receive and send crypto. It would be less of a user headache if they removed this KYC block and only used it for sales on Venmo, but it seems like they don't care.

Coupling this with lack of L2 support you pretty much can tell Paypal is just larping crypto. Their team doesn't use crypto and don't actually care about its integration on their products.

Yeah the chain switching stuff comes across as tourism. I don’t see a strategy like I do with Visa by contrast..