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Binance to support BUSD while exploring non-USD stablecoins, CZ says
13.2.2023
Binance CEO Changpeng ‘CZ’ Zhao says the exchange will continue to support BUSD despite issuer Paxos being ordered to stop minting the stablecoin by the U.S. SEC and New York regulators
SEC lawsuit against Paxos over BUSD baffles crypto community
13.2.2023
Members of the community were confused and argued that people buying the stablecoin are not expecting it to go up in value
Paxos Trust Co. gets Wells notice from SEC over BUSD token
13.2.2023
It happens to be the Securities and Exchange Commission (SEC) that has duly informed the crypto company, Paxos Trust Co., which happens to be a crypto firm, that it is contemplating suing the company. This is with regard to its suspicion of the entity having violated investor protection laws....
Breaking: Paxos reportedly ordered to stop issuing Binance USD
13.2.2023
A New York regulator ordered Paxos to stop issuing BUSD, the third-largest stablecoin by market cap
Are stablecoins securities? Well, its not so simple, say lawyers
13.2.2023
One lawyer said that while stablecoins are meant to be stable, buyers may possibly profit from a range of arbitrage, hedging, and staking opportunities
SEC to Sue Crypto Trust Co. Paxos Over Binance Stablecoin: WSJ
13.2.2023
The U.S. Securities and Exchange Commission (SEC) intends to sue stablecoin issuer Paxos, which is behind the Pax Dollar and Binance USD tokens, over the latter. The news comes days after CoinDesk reported Paxos was under investigation by the New York Department of Financial Services
Breaking: Paxos to face SEC lawsuit over Binance USD: Report
13.2.2023
According to people familiar with the matter, the notice relates to Binance USD, which is being seen by the SEC as an unregistered security
New York Regulator Launches Investigation into Stablecoin Issuer Paxos – Binance BUSD in Trouble?
10.2.2023
Stablecoin giant Paxos confirmed to be under investigation by New York financial authorities.
The New York Department of Financial Services (NYDFS) has acknowledged an ongoing probe.
Known for running Binance USD (BUSD), Paxos is an industry leader in stablecoin technology. Offerings also include...
Stablecoin issuer Paxos probed by New York regulators
10.2.2023
While the exact reason for the investigation hasn’t been revealed, it has been reported that the New York regulator plans on upping its efforts to protect consumers this year
Stablecoin Issuer Paxos Is Being Investigated by New York Regulator
9.2.2023
The New York Department of Financial Services is investigating crypto company Paxos, though the scope of the investigation is not yet clear
Paxos Courts MakerDAO With Paying Yield for Holding Up to $1.5B USDP Stablecoin
20.1.2023
The proposal by Paxos is part of MakerDAO’s effort to generate income on its $7 billion digital asset reserve
Cornell Professor Warns of Disruption to US Bond Market From Potential Collapse of Major Stablecoin
16.1.2023
A professor from Cornell University has warned about the potential effects a collapse of a major stablecoin could have on the U.S. bond market. Eswar Prasad said that if large stablecoins face a collapse, the number of Treasury bonds they would need to sell could disrupt the U.S. Treasuries market...
BUSD Sees $5 Billion Reduction in Supply in 24 Days, Relationship With Turkish Lira Continues
6.1.2023
According to statistics, the stablecoin BUSD saw a significant drop in its supply over the past 30 days, shedding roughly 23.8% from Dec. 5, 2022, to Jan. 6, 2023. Since Dec. 13, 2022, BUSD’s supply has been reduced by more than $5 billion, going from $21.84 billion to its current level...
Stablecoin BUSD’s Supply Shrunk by 3.24 Billion in 3 Days, Market Cap Is Down 20% Since Last Month
16.12.2022
While billions of dollars in crypto assets have been withdrawn from Binance, the world’s largest exchange in terms of volume, the stablecoin BUSD has seen its coins in circulation drop considerably during the last three days. While 20% of BUSD’s supply was drained since last month...
Drones, Fertility, and Defi — A Look at Alameda Research’s Massive $5.4 Billion Portfolio of Investments
8.12.2022
Over the last few weeks, there’s been a lot of information revealed surrounding the recent FTX and Alameda Research disaster. On Dec. 6, the Financial Times (FT) published documentation that shows Alameda’s investment portfolio, which alleges the company spent more than $5 billion on hundreds...
Stablecoin Economy Continues to Shrink Shedding Close to 5% in 2 Months
28.11.2022
During the last month, the market capitalization of all the stablecoins in existence dropped by more than 2%, shedding roughly $2.98 billion since the end of October. Statistics show that tether, the largest stablecoin by market valuation, saw its market cap lose more than 5% during the last...
Dubai Multi Commodities Centre to Issue Gold Backed Tokens Using the Xinfin Blockchain Protocol
23.11.2022
The Dubai Multi Commodities Centre (DMCC) has announced a new partnership with the firm Comtech Gold in order to digitize gold trading. The DMCC said the tokenized precious metals are backed by DMCC Tradeflow-registered gold bars, and each tokenized gold bar “will be backed by a Tradeflow warrant.”...
Binance and Paxos’s BUSD: High Quality Reserves, Audits, and Regulation
23.11.2022
What is BUSD? Recently, there have been many questions about the safety and soundness of products in the crypto space. There have been many questions about stablecoins in general, so this piece is intended as an explanation of BUSD. First and foremost, BUSD is a stablecoin pegged to the US Dollar...
US Law Enforcement Directs Paxos to Freeze More Than 11,000 PAXG Tokenized Gold Coins
14.11.2022
According to the blockchain infrastructure company Paxos, the firm has frozen 11,184.38 pax gold (PAXG) tokens held on the platform FTX.com. The regulated token issuer noted that it was directed to freeze the PAXG tokens after “direction from U.S. federal law enforcement.” Paxos...
Paxos Ordered by US Officials to Freeze $19M in Crypto Tied to FTX
14.11.2022
U.S. federal law enforcement asked the crypto issuer to freeze assets associated with four ethereum addresses as investigations into FTX collapse intensifies