Paxos, a blockchain infrastructure platform and the issuer of Binance’s stablecoin Binance USD (BUSD), is in talks with the U.S. Securities and Exchange Commission over its decision to consider the stablecoin a security. In an email to employees, Paxos CEO Charles Cascarilla said they are having “constructive discussions” with the commission over BUSD, adding that…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: ‘Crypto Trading Activity Increased Markedly in the Wake of Terra & FTX Falls’, Huobi Moving from Singapore to Hong Kong, Swarm Launches Tradable Stocks and Bonds On-chain Read…
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Eight days ago, Paxos announced that the company would no longer mint the stablecoin BUSD. Since then, the coin’s market capitalization has been sliding lower as redemptions have become more prominent. Meanwhile, a data researcher from Nansen has discovered that Binance, the largest cryptocurrency exchange by trade volume, has increased its usd coin holdings by…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: ‘Many Existing Stablecoins Would Not Meet Coming Standards’, Fireblocks to Launch Off-exchange Service, Stellar & USDC Added to Wirex Wallet Read more »Sign up for e-EUR – the…
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The United States Securities and Exchange Commission (SEC) ordered Paxos Trust to stop issuing Binance USD. That could affect the whole stablecoins ecosystem. New week, a new element of the crypto ecosystem is under attack. This time, the United States Securities and Exchange Commission (SEC) ordered Paxos Trust to stop issuing Binance USD (BUSD) —…
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Binance US has refuted reports that draw parallels between it and “fraudulent exchanges that have gone bankrupt.” The U.S.-based crypto trading platform stressed that “only Binance.US employees” have access to its bank accounts, denying the allegation that global crypto exchange Binance has “secret access.” Clarifications by Binance US Binance US, a U.S.-based cryptocurrency trading platform…
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Six days ago, a few hours before the blockchain infrastructure platform Paxos announced it would no longer mint BUSD stablecoins, $2.86 billion worth of BUSD were redeemed. Currently, Binance is the most active exchange trading BUSD tokens, and the stablecoin still commands roughly 10.7% of the crypto economy’s $67.71 billion in global trade volume over…
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With U.S. regulators effectively canceling Binance-branded BUSD stablecoin, the world’s largest cryptocurrency exchange is now looking beyond dollar-based stablecoins – and it has received notable interest from potential partners. Patrick Hillmann, Binance’s chief strategy officer, has said that multiple private and public entities have shown interest in collaborating with the exchange on launching another stablecoin,…
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The Binance CEO contradicted a Bloomberg source concerning the reduction of the company’s activities following increasing pressure from U.S. regulators. Binance CEO Changpeng “CZ” Zhao has denied a report that the company is considering cutting ties with United States business partners. Binance has been the object of increasing scrutiny from U.S. regulators in recent weeks.…
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A recent Binance report details the status of Ether staking and explores why the Shanghai upgrade may not result in the ETH sell pressure some traders have predicted. The upcoming Ethereum Shanghai hard fork is slated to occur in March 2023, and the upgrade will cap off the network’s move to proof-of-stake (PoS), which started during…
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