4 / 4 Relevant items tagged with #Paxos

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Binance’s BUSD Reserves Steady At $13 Billion, Represents 18% Of All Assets

[Feb 14, 2023 3:15 AM] BUSD, a stablecoin issued by Paxos, a blockchain infrastructure platform in New York, is still one of the most dominant assets on Binance, the world’s largest cryptocurrency exchange by client count and trading volume. BUSD Remains Dominant…

Stablecoins not the target in BUSD crackdown: Matrixport head of research

[Feb 13, 2023 11:51 PM] Crypto financial service Matrixport’s head of research believes regulators are not targeting all stablecoins with the regulatory crackdown on BUSD issuer Paxos.

Binance withdrawals and BUSD redemptions surge post Paxos crackdown

[Feb 13, 2023 11:22 PM] Net outflows at the cryptocurrency exchange hit $788 million over the last 24 hours, however, Binance told Cointelegraph that "Funds are SAFU."

Paxos ‘categorically disagrees’ with the SEC that BUSD is a security

[Feb 13, 2023 6:05 PM] Paxos said it will engage with the U.S. securities regulator on the matter and is prepared to “vigorously litigate if necessary.”

Circle blew the whistle on Binance reserves to NYDFS: Report

[Feb 13, 2023 3:55 PM] The company's complaint to the New York regulator reportedly came before the SEC's lawsuit against Paxos over BUSD and NYDFS ordering the firm to "cease minting" the stablecoin.

BUSD Redemptions Soar Near $290 Million in 8 Hours After NYDFS Consumer Alert

[Feb 13, 2023 3:30 PM] 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…

Here’s Why The Stablecoin And Binance FUD Might Be Overblown

[Feb 13, 2023 7:15 AM] Binance CEO Changpeng Zhao (“CZ”) has commented on Twitter about the Department of Financial Services’ (NYDFS) directive to Paxos Trust Co. to stop minting new BUSD. As reported by the Wall Street Journal today, Paxos will…

Paxos Receives Wells Notice from SEC, NYDFS Orders Issuer to Stop Minting BUSD

[Feb 13, 2023 6:03 AM] 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…

Breaking: New York Regulator Orders Paxos To Stop Issuing Binance’s BUSD

[Feb 13, 2023 5:32 AM] Binance’s BUSD which is issued by Paxos continues to be one of the largest stablecoins in the crypto market. However, it looks like the stablecoin has now made it onto regulators’ radar as New York regulators have ordered Paxos to stop issuing new…

Paxos to stop minting BUSD stablecoins for Binance

[Feb 13, 2023 5:25 AM] All existing BUSD tokens will remain fully backed and redeemable through Paxos Trust Company by at least February 2024, Paxos said.

Binance to support BUSD while exploring non-USD stablecoins, CZ says

[Feb 13, 2023 5:23 AM] 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.

Breaking: Paxos reportedly ordered to stop issuing Binance USD

[Feb 13, 2023 2:10 AM] A New York regulator ordered Paxos to stop issuing BUSD, the third-largest stablecoin by market cap.

Breaking: Paxos to face SEC lawsuit over Binance USD: Report

[Feb 12, 2023 5:44 PM] According to people familiar with the matter, the notice relates to Binance USD, which is being seen by the SEC as an unregistered security.

Report: Paypal Puts Stablecoin Plans on Hold as US Regulators Crack Down on Crypto Industry

[Feb 11, 2023 1:30 PM] During the first week of 2023, payment service giant Paypal said it was exploring the launch of a stablecoin. At the time, an executive at Paypal stated that if the company moved forward, it would work closely with financial regulators. However, on…

Stablecoin Economy Sheds Another $3 Billion in 44 Days

[Jan 28, 2023 3:00 PM] The stablecoin economy continues to deplete as more than $3 billion has been erased from the stablecoin market ecosystem over the last 44 days. While statistics show that tether’s market valuation has risen by 2% over the last 30 days, usd…

Cornell Professor Warns of Disruption to US Bond Market From Potential Collapse of Major Stablecoin

[Jan 16, 2023 4:30 AM] 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…

BUSD Sees $5 Billion Reduction in Supply in 24 Days, Relationship With Turkish Lira Continues

[Jan 6, 2023 9:00 AM] 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…

Stablecoin BUSD’s Supply Shrunk by 3.24 Billion in 3 Days, Market Cap Is Down 20% Since Last Month

[Dec 16, 2022 2:30 PM] 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…

Drones, Fertility, and Defi — A Look at Alameda Research’s Massive $5.4 Billion Portfolio of Investments

[Dec 8, 2022 9:30 AM] 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…

Stablecoin Economy Continues to Shrink Shedding Close to 5% in 2 Months

[Nov 28, 2022 9:00 AM] 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…

Dubai Multi Commodities Centre to Issue Gold Backed Tokens Using the Xinfin Blockchain Protocol

[Nov 23, 2022 1:00 PM] 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…

US Law Enforcement Directs Paxos to Freeze More Than 11,000 PAXG Tokenized Gold Coins

[Nov 14, 2022 1:30 PM] 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…

Brazil payment app PicPay launches new crypto exchange service with Paxos technology

[Aug 10, 2022 12:17 PM] PicPay, a Brazil-based payment app, has announced will now allow its users to buy, sell and hold cryptocurrencies, in its first foray into the crypto market. Today, PicPay launches its cryptocurrency exchange service, which initially supports…