U.S. regulatory crackdown on crypto companies gains momentum. Paxos has disclosed that it will end its relationship with Binance for the Binance USD stablecoin and will end the issuance of new tokens ...
Tag: BUSD
Aave community initiates proposal to freeze BUSD with Paxos’ halt of token minting imminent
Ad The Aave community is currently considering a proposal to freeze the BUSD reserve on the Aave V2 market in light of Paxos’ move to stop minting BUSD. BUSD issuer Paxos announced on Feb. 13 that it ...
Paxos Halts BUSD Stablecoin Issuance, Here’s What Binance CEO Has To Say!
In light of the continuing investigation by New York regulators, blockchain infrastructure platform Paxos Trust Company will stop issuing new Binance USD (BUSD) stablecoins. The third-largest stableco...
Binance CEO Warns of ‘Profound Impacts’ on Crypto Industry if BUSD Is Ruled as a Security – Altcoins Bitcoin News
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. Sec...
Paxos ‘categorically disagrees’ with SEC in calling BUSD a security
Paxos said it “categorically disagrees” with the U.S. Securities and Exchange Commission in calling Binance USD (BUSD) a security. The stablecoin issuer said it got an SEC Wells noti...
Aave Considers Freezing BUSD Following NYDFS Enforcement
Members of the Aave community – a widely used decentralized lending protocol – are mulling a freeze on BUSD after a wave of regulatory pressure against its issuer, Paxos, on Monday. A newly tabled gov...
USDT trading volumes rise 35% amid BUSD redemption requests
Tether (USDT) trading volumes are up by over 70% less than 12 hours after Paxos, the issuer of BUSD, a competing stablecoin, was directed to stop minting new coins. USDT trading volumes rising Accordi...
PayPal halts stablecoin launch amid BUSD and Paxos scrutiny
Listen to this article. PayPal has halted the debut of its stablecoin amid heightened regulatory scrutiny in the crypto industry and news of a probe by the New York State Department of Financial Servi...
Stablecoin Issuer Paxos Ceases BUSD Issuance After SEC Reportedly Threatens Lawsuit ⋆ ZyCrypto
Advertisement     In what will be seen as a major escalation in its crypto enforcement agenda, the Securities and Exchange Commission (SEC) is preparing to sue Paxos f...
Paxos to stop minting new BUSD stablecoin
Hours after the US Securities and Exchange Commission (SEC) had issued a Wells notice to Paxos, the issuer of BUSD, the company was reportedly told to stop issuing the stablecoin. New York regulator o...
BUSD is dead, long live USDT
Paxos has announced that from February 21, it will no longer issue new Binance USD (BUSD) tokens. Binance USD is a dollar-pegged stablecoin issued by Paxos that carried the Binance brand name. Protos ...
Paxos Ceases Issuance of Binance’s BUSD Stablecoin
Paxos, the premier regulated blockchain and tokenization infrastructure provider, has announced that it will end its relationship with Binance for the BUSD stablecoin brand. The decision, which comes ...
Here’s When Paxos Will Stop Minting Binance USD (BUSD)
The US-based blockchain infrastructure platform – Paxos Trust Company – will stop the issuance of new Binance stablecoins (BUSD) from February 21. Despite this, the firm said it has a “strong corpora...
Paxos Receives Wells Notice from SEC, NYDFS Orders Issuer to Stop Minting BUSD – Bitcoin News
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 (...
bUSD to be Phased Out, SEC Gives Notice – Trustnodes
The tokenized dollar bUSD, with a market cap of $16 billion, is gradually being phased out after its issuer, Paxos, was ordered to stop minting. “We were informed by Paxos they have been directed to c...
Binance CEO says declaring BUSD a security will ‘profoundly impact’ crypto progress
As cryptocurrency firm Paxos was forced to stop issuing the dollar-pegged Binance token BUSD and is facing a lawsuit by the United States Securities and Exchange Commission (SEC) over the issuance of ...
BNB declines after Paxos ordered to stop BUSD issuance
Binance’s native coin BNB has declined nearly 6% in the past 24 hours, trading to lows of $289 on major cryptocurrency exchanges. According to CoinGecko data, Binance Coin price hit highs of $321 late...
Powerful New York Regulator Targeting Top Stablecoin, Binance Confirms Paxos Will No Longer Mint BUSD
A powerful regulator is directing New York-based crypto company Paxos to stop minting the stablecoin Binance USD (BUSD). Binance CEO Changpeng Zhao says the New York Department of Financial Services (...
Paxos Trust Co. gets Wells notice from SEC over BUSD token
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....
New York Regulator Reportedly Stops Paxos From Issuing BUSD, but is it Just FUD?
The world’s largest crypto exchange has reportedly admitted that the New York Department of Financial Services has ordered Paxos to stop issuing the Binance USD (BUSD) stablecoin. BUSD is the seventh-...
BUSD Issuer Paxos Faces SEC Lawsuit Over Binance Stablecoin
The Securities and Exchange Commission is reportedly planning to sue crypto firm Paxos. The enforcement action revolves around Binance’s BUSD stablecoin which is issued by Paxos. The regulator has all...
Paxos will no longer issue Binance USD stablecoin
The New York Department of Financial Services (NYDFS) ordered crypto infrastructure firm Paxos to stop issuing the stablecoin Binance USD (BUSD), a Binance spokesperson told The Block. “Pa...
Optimism (OP) Soars 30% Amid Binance’s BUSD Integration
Gamza Khanzadaev OP up 30% in 24 hours against background of major stablecoin integration into Optimism network The OP price has risen 30% in the last 24 hours, reaching values close to its absolute h...
BUSD Supply Decline by $2B as USDT Market Dominance Rises
Tether USDT’s market dominance has risen to its highest level since November 2021, according to DeFillama data. On the other hand, Binance-backed BUSD has seen its supply shrink by roughly $2 billion ...
BUSD Loses $2 Billion In Value In A Month
Join Our Telegram channel to stay up to date on breaking news coverage The Binance USD (BUSD) stablecoin issued by crypto exchange giant Binance has significantly declined in terms of circulating supp...
Binance stablecoin BUSD sees a sharp market cap drop amid solvency and mismanagement worries
Stablecoins in the cryptocurrency market help provide U.S. dollar-pegged tokens within the volatile industry. In bull markets, the market capitalization of stablecoins tends to decrease as investors f...
BUSD Sees Sharp Fall Amidst Solvency And Mismanagement Concerns
Binance’s BUSD stablecoin has seen a sharp fall in market capitalization, as its circulating supply dropped to $15.4 billion on Wednesday. The BUSD stablecoin has dropped around $1 billion over the p...
BUSD market cap drops by $2b in January amid management issues
Binance’s BUSD stablecoin market cap has dropped by $2 billion in January after the reveal of a poor management instance. According to crypto price tracker CoinGecko, the market cap of BUSD decreased ...
Cardano (ADA) Now Supports BUSD Seamlessly with This Bridge Solution
Vladislav Sopov Finitum platform by Staking Rocks facilitates seamless value transfer between Cardano (ADA) and BNB Chain (BSC) Contents This protocol bridges Cardano (ADA) and BNB Smart Chain Communi...
Cardano to Get Support of Binance’s BUSD Thanks to This Bridge
Arman Shirinyan Cardano becomes even more robust as new solution drops thanks to bridge According to the site of Cardanoscan blockchain explorer, users on Cardano will be able to use Binance’s s...