Coinbase-Backed ZORA Token Plummets Over 50% Amid Growing VC Token Skepticism

The highly anticipated launch of Zora’s ZORA token, backed by Coinbase Ventures, has taken a dramatic downturn, losing more than half its value following an initial price surge. This decline reflects a broader trend of underperformance among venture capital-supported crypto projects, sparking disillusionment among traders and the crypto community.

ZORA Token Tumbles Over 50% Post-Launch as VC-Backed Token Skepticism Grows

Zora’s highly anticipated ZORA token launch has faltered, with the Coinbase Ventures-backed asset shedding more than half its value since an initial price spike. The token’s decline mirrors a broader trend of underwhelming performances from venture capital-supported crypto projects.

Traders expressed disillusionment through social media, with one posting sardonic images of cutting ties with the Zora network. The swift downturn highlights growing market wariness toward tokens perceived as driven by institutional backing rather than organic demand.

Coinbase and PayPal Partner for Zero-Fee PYUSD Conversions

Coinbase has eliminated fees for converting PayPal’s PYUSD stablecoin, marking a deepening partnership between the two financial giants. The move enables seamless onramps and offramps for PYUSD on Coinbase’s platform, the largest U.S.-based exchange.

PayPal’s strategic push into crypto payments takes a significant step forward with this collaboration. Merchants can now settle transactions directly in PYUSD, bypassing traditional payment networks. Instant settlement—a key advantage of stablecoins—was cited as a driving factor behind PayPal’s decision.

The partnership creates a symbiotic relationship: Coinbase gains access to PayPal’s extensive merchant network, while PayPal taps into Coinbase’s massive retail and institutional user base. This integration signals growing institutional confidence in stablecoin utility for payments.