Cryptocurrency Analysis and News Portal
Before Paxos published a press release at 6 a.m. Eastern time Monday, the stablecoin BUSD had approximately 16.16 billion tokens in circulation. In the past eight hours, nearly $290 million has been redeemed, bringing the number of BUSD in circulation to 15.87 billion. Stablecoin BUSD Sees Increased Redemption Activity During Regulatory
Read More
Paxos also noted in its press release that the Wells Notice specifically had to with BUSD and not any other part of its business. “This SEC Wells notice pertains only to BUSD. To be clear, there are unequivocally no other allegations against Paxos,” Paxos wrote. Original Source
Read More
In the largest BUSD pool on decentralized finance (DeFi) protocol Curve, where traders can swap between stablecoins, traders almost depleted the USDT, USDC and DAI liquidity. Now, 85% of the pool’s liquidity is BUSD, making it difficult for traders to exchange large amounts of BUSD, and forcing sellers to accept
Read More
Binance CEO Changpeng Zhao (CZ) has warned of “profound impacts” on the crypto industry if stablecoin Binance USD (BUSD) is ruled as a security. His warning followed an alleged lawsuit by the U.S. Securities and Exchange Commission (SEC) against Paxos, the issuer of Binance USD. Binance’s CEO on SEC Action Against
Read More
According to a report published on Feb. 12, 2023, the New York-based financial institution and technology company, Paxos, has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) regarding alleged violations of investor protection laws. Paxos revealed the following day that it would no longer mint BUSD
Read More
February has been a great month for the narrative that crypto’s natural home is in Asia. Original Source
Read More
It was reported on Sunday that the SEC intended to sue Paxos for selling BUSD as an unregistered security. Original Source
Read More
Blockchain infrastructure platform Paxos Trust Company will halt the issuance of new Binance USD (BUSD) stablecoins amid the ongoing probe by New York regulators.Paxos officially announced on Feb. 13 that the firm would end its relationship with Binance for the branded U.S. dollar-pegged stablecoin BUSD.Starting from Feb. 21, Paxos will
Read More
Cryptocurrency exchange Binance plans to continue supporting its Binance USD (BUSD) stablecoin despite its issuer, Paxos Trust Company, facing a stop order from American regulators.As reported by Cointelegraph, the New York Department of Financial Services (NYDFS) has ordered blockchain firm Paxos to cease issuing dollar-pegged stablecoin BUSD. Paxos has also
Read More
Paxos Trust Company-issued stablecoin Binance USD (BUSD) being in the sights of United States regulators sparked various reactions from the crypto community.On Feb. 13, the United States Securities and Exchange Commission (SEC) issued a wells notice to Paxos, alleging that BUSD is unregistered security. On the same day, the New
Read More