According to researchers at the U.S. investment firm Morgan Stanley, stablecoin instruments may be able to compete with conventional banking systems, and its dropping market capitalization signals a d...
Tag: Stablecoin
BNB Token Plunges as Binance, Paxos Shutter BUSD Stablecoin Product
The recent regulatory action against Paxos and Binance over the partnership’s dollar-pegged stablecoin has spooked investors. Following the crackdown from the SEC and the New York Department of ...
Waves team accused of dumping its stablecoin to stay afloat
Blockchain data suggests that the Waves team may have sold its own stablecoin, USDN, to top-up the bridge of its DEX and also buy back the debt accumulated by its Vires lending platform. A crypto anal...
Curve Pools Drained of Tether as BUSD Holders Dump Stablecoin
Stablecoin holders have drained BUSD liquidity from Curve Finance’s busdv2 liquidity pool as issuer Paxos faces regulatory upheaval. Investors increased the proportion of BUSD in Curve’s pool from 69%...
More Avenues To Buy NFTs Using DJED as NMKR Adds Support For Cardano Stablecoin
Djed use cases continue to expand in less than a month after launch. Cardano-based NFT-focused platform NMKR has announced that its payment service has added DJED as a payment option, making it possib...
684 million BUSD burned for redemptions amid US regulatory scrutiny
Just over a day after it categorically denied regulator claims Binance USD (BUSD) is a security, Paxos has burned some 684 million of the stablecoin for U.S. dollar redemptions, on-chain data show. &#...
Stablecoin Issuance Drop Worries Morgan Stanley About Crypto Market Stability
According to a research report published by American investment banking company Morgan Stanley on February 13, stablecoins play an important part in cryptocurrency trading, and their products might po...
Tether Nears 50% Of Stablecoin Market, Highest in 14 Months
Tether (USDT) is once again coalescing as crypto’s pegged token of choice, with its stablecoin market share nearing 50% for the first time since December 2021. The top stablecoin issuer has deployed a...
Stablecoin Market Sees Supply Increase for Tether as Competitors Decline in Light of Recent Regulatory Developments – Altcoins Bitcoin News
While the stablecoin market has seen significant redemptions in the past three months, the supply of tether, the largest stablecoin by market capitalization, has increased by 2.46 billion since mid-No...
Curve’s 3pool nearly hits $1b in single-day stablecoin transactions
On Feb. 13, the total transaction amount on Curve stablecoin nearly hit $1 billion, with $712 million coming from 3pool. Curve had the most stablecoin transactions in a day since Nov. 10, 2022. Curve ...
Binance Stablecoin Is a Security, SEC Tells Paxos: WSJ
Paxos, the issuer of Binance-branded stablecoin BUSD, could reportedly be sued by the US Securities and Exchange Commission (SEC) for violating investor protection laws. The Wall Street Journal report...
Cardano Djed Stablecoin Records Impressive Growth Numbers: Details
Barely two weeks after its mainnet launch, the overcollateralized Stablecoin Djed (DJED) based on Cardano has garnered over 31 million Cardano (ADA) coins as backing. Djed now has 31,496,011 ADA in it...
USDC faces SEC enforcement amid stablecoin crackdown
Rumors are circulating that the Securities and Exchange Commission (SEC) will soon issue an enforcement notice to Circle over its stablecoin USDC. The move comes as part of the SEC’s current crackdown...
Terra’s classic stablecoin surges on BUSD failure, but is still only worth $0.03
Ad The depegged stablecoin Terra Classic USD (USTC) regained a small amount of value today alongside news that issuance of Binance USD (BUSD) will be halted. The price of USTC rose 19.14% to 3.1 cents...
Binance’s Native Token, BNB, Price Impacted by Recent FUD on Stablecoin: Details
Binance‘s native token, BNB, posted a significant drop on its daily chart after a New York regulator ordered Paxos Trust to stop creating more BUSD stablecoins. As seen on the TradingView chart...
COTI Adds Multi-Wallet Support For Cardano Stablecoin
DJED is now available on Flint and other top crypto wallets. COTI Adds Multi-Wallet Support for DJED. The supported wallets include Flint, GeroWallet, Yeroi Wallet, Typhon Wallet, and NuFi. The move i...
Circle Takes on Binance: Regulatory Complaint Filed Over Stablecoin Issuance
The implosion of FTX and Alameda – which has often been described as one of the largest institutional failures in modern American history – has begun a new wave of stablecoin regulatory scrutiny acros...
Stablecoin withdrawals reach almost $500M in wake of BUSD news
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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...
Circle warned regulator about rival Binance stablecoin last year, Bloomberg says
Circle filed a complaint with the New York State Department of Financial Services last year over rival Binance’s “mismanagement of reserves” for its own tokens, Bloomberg News report...
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...
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 ...
Paxos ordered to cease minting Binance stablecoin by New York regulator
Chad Cascarilla, CEO of Paxos. Adam Jeffery | CNBC Cryptocurrency firm Paxos will cease issuing new Binance USD, or BUSD, stablecoins under the direction of New York state’s financial regulator,...
Former SEC Official Reacts to PayPal’s Decision to Ditch Its Stablecoin
Alex Dovbnya An ex-SEC official says it was “blatantly obvious” for PayPal to ditch its stablecoin PayPal has halted its work on its stablecoin due to partner Paxos being investigated by the New York ...
SEC to pursue Paxos for Binance USD stablecoin issuance
SEC has begun legal plans to sue Paxos for issuing and listing Binance USD, a well-known stablecoin in the crypto ecosystem. The financial watchdog argues that the firm’s token issuance violates inves...
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 (...
USDC outperforms USDT? Key insights on Stablecoin market domination
USDC captures 44% of the stablecoin market share, outperforming USDT. Coinbase users convert large amounts of USDC into fiat. Stablecoins have been gaining popularity in recent years, as they offer ex...
Why The SEC Plans To File Lawsuit Vs. Stablecoin Issuer
Paxos Trust Company is on the hit list of the US Securities and Exchange Commission, who is out to slap the financial institution and technology company specializing in blockchain with a court case fo...
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...