Paxos

Paxos is getting off scot-free after the SEC said it wouldn’t pursue legal action against the company

The launch comes more than a year after the payments giant first confirmed the existence of the dollar-backed stablecoin project

The majority of retail consumers who had heard about and followed the bankruptcies of FTX indicated they plan to buy more crypto or likely do nothing as a result

After facing regulatory scrutiny in the US, Binance’s BUSD could be heading the way of the dodo, according to on-chain data and analysts

US government debt is considered as highly liquid assets leaving little doubt about Paxos’ ability to meet an influx of redemptions on BUSD, analysts say

BUSD’s circulating supply has dipped by 26% since Paxos received a Wells notice from the SEC

Binance branded stablecoin BUSD has given up its seventh spot on crypto market cap leaderboards, as the SEC’s threat to Paxos looms

The proposal says “there’s no real prospect of growth” for BUSD

Paxos deposit addresses saw a huge uptick in deposits, meaning there’s more redemptions/burns to come, a Nansen researcher said

More projects may leave the US for jurisdictions that are more open to innovation, Ume CEO Brent Xu told Blockworks

Binance chief says they will continue BUSD support but, “foresee users migrating to other stablecoins over time.”

As the SEC looks set to clamp down on dollar-pegged tokens, the oldest stablecoin, Tether, is looking as dominant as ever

Binance USD issuer Paxos has reportedly been hit with a Wells notice, meaning the SEC intends to sue unless it can be convinced otherwise

Partnerships with Web2 companies may have saved Polygon’s MATIC from market chaos

Still the number one stablecoin, Tether is on track to make up more of the crypto market than ever before

The payments giant will partner with Paxos to offer a new suite of products, including crypto trading, custody, and security management for institutions

It ends a more than two-year partnership with Paxos, which paved the way for the app to offer crypto to US customers.

The popularity of bitcoin is poised to affect the gold market, Paxos executive says

The investment was led by Greylock Partners and Electric Capital with participation from Sequoia Capital, Blockchain Capital and Slow Ventures

The payment service initiated by Facebook is piloting its wallet for sending Paxos’ USDP stablecoin

CEOs of FTX and Circle among the company leaders to speak at a Financial Services commitee hearing on the future of finance.

Customers in the United States can now trade and custody bitcoin, Ethereum, litecoin and bitcoin cash alongside traditional investments through Interactive Brokers.