Jefferies analyst John Hecht downgraded Green Dot (GDOT) to Hold from Buy and lowered his price target for the shares to $32 from $62. The company's organic revenue growth has been slowing and it is trying to establish share in a new customer target market with well-resourced competitors, Hecht tells investors in a research note. In addition, Green Dot's current new customer goals "look like a stretch in light of historical trends," adds the analyst. He points out that Square (SQ) and PayPal (PYPL) are observing monthly downloads at a rate of six-times Green Dot. Hecht sees potential downside to earnings and few positive catalysts in the intermediate term for Green Dot.

DMG Blockchain Solutions (DMGGF) announced a strategic collaboration with PayPal (PYPL) and Energy Web to explore ways to decarbonize the Bitcoin blockchain. The companies are working together on developing methods for transacting on the Bitcoin network which would expand its use as a carbon neutral payment rail, thus advancing its application. DMG, Energy Web, and PayPal are working together to publish a research paper, which we collectively believe will benefit users of the Bitcoin network who would like to take advantage of carbon neutral options in their transactions. PayPal, with its focus on developing its bitcoin payment rail, has been a leader in new payment technologies with the introduction of its enhanced services by integrating blockchain technology, launching the PayPal USD stablecoin with Paxos Trust Company in August 2023 for efficient transactions.