Paxos

What is Paccoin? The halving of Bitcoin has led people to speculate on mining. H

According to reports, according to the latest data from Coinsecko, the market value of the US dollar stable currency BUSD issued by Paxos has fallen below $7 billion, compared to $

According to reports, records from the US Office of the Comptroller of the Currency show that the stable currency issuer Paxos initially submitted a national banking license applic

News on April 6th. According to the job list on LinkedIn, stable currency issuer Paxos is recruiting a new portfolio management manager. The company stated that the hired individua

News on April 6th. According to the job list on LinkedIn, stable currency issuer Paxos is recruiting a new portfolio management manager. The company stated that the hired individua

According to reports, digital asset company Paxos announced that it has over 10 million active digital wallets worldwide. Paxos issued a statement stating that although market chal

According to reports, Paxos disclosed on its official website that after announcing on February 13, 2023 that it would stop casting new BUSD tokens and terminate its relationship with Coin Security, the platform has processed over $7.9 billion in BUSD redemptions in the past 32 days, accounting for nearly 50% of the current BUSD, without causing any losses to customers or causing market chaos, and has managed all customer assets in accordance with the New York State Bank Law to avoid bankruptcy. Paxos stated that currently all BUSDs are hosted…

On March 13, CoinGecko data showed that the US dollar stable currency BUSD issued by Paxos had a short-term premium, once rising to the peak of US $1.03, and now it has dropped slightly to US $1.01, with a 24-hour increase of 1.5%, and the market value has risen to US $8.44 billion. Interpretation of this information: The US dollar stable currency BUSD, issued by Paxos, experienced a short-term premium on March 13, where its value rose to a peak of $1.03. This means that for a short time, the…

On March 13, the official Twitter of Paxos, the issuer of stable currency, said that the current deposit in Signature Bank was 250 million US dollars and the deposit insurance system had been established. All Paxos stable currency reserves are fully supported, and can be redeemed to customers at any time at the ratio of US $1:1. Interpretation of this information: The message from Paxos on March 13 highlights their credibility as an issuer of stable currency. Their tweet states that they have deposited $250 million in Signature Bank and…

It is reported that Paxos, the issuer of the US dollar stable currency BUSD, released a statement on Silvergate Bank on social media, which said that Paxos had almost no contact with Silvergate Bank. Last week, we stopped SEN connection and wire transfer to the Silvergate account of Paxos, and continue to process outgoing withdrawals. As a regulated institution, Paxos has always focused on protecting customers’ funds, and the platform has built-in banking redundancy. Interpretation of this information: In a recent statement, Paxos, the issuer of the US dollar stable…

According to reports, a recent survey by Paxos showed that although emerging asset classes have experienced a turbulent year, the U.S. market has a high enthusiasm for cryptocurrencies. Of the 5000 U.S. adults of working age surveyed, 75% are still “full of confidence or some confidence in the future of cryptocurrencies”, and 72% are “a little worried or not worried” about the volatility of the cryptocurrency market in the past year, The survey was conducted from January 5 to 6. The respondents included adults with incomes of more than $50000,…

It is reported that Charles Cascarilla, CEO of Paxos, raised an objection to the unilateral “Wells Notice” issued by the Securities and Exchange Commission of the United States, which said that BUSD was a kind of security, and pointed out that according to the Howey test and the Reves test, BUSD did not meet the security standards, because the stable currency was always supported by cash and equivalents (such as US dollars and US bonds), He also said that Paxos had so far contributed more than US $2.8 billion in…

According to reports, Reuters quoted an internal email from the chief executive of Paxos as reporting that Paxos was having a constructive discussion with the Securities and Exchange Commission. Previously, the company disclosed that the regulatory authority told the company that it should register BUSD as a security. Interpretation of this information: The news that Paxos is reportedly in productive talks with the Securities and Exchange Commission (SEC) has been making headlines recently. According to reports, the CEO of Paxos sent out an internal email updating the company on the…

According to reports, Whale Alert data monitoring shows that Paxos destroyed 122 million BUSDs at 14:54 today. Interpretation of this information: Paxos, a financial technology company that specializes in blockchain-based infrastructure for digital assets, has destroyed 122 million BUSDs. According to Whale Alert, a monitoring system that tracks large cryptocurrency transactions, the event took place on September 22nd, 2021, at 14:54. This move by Paxos could have several underlying reasons. Firstly, it is essential to understand what BUSD is to interpret the significance of this event. BUSD refers to a…

7:00-12:00 Keyword: IMX, BUSD, Paxos, Filecoin virtual machine Interpretation of this information: The message seems to be discussing some business or technology-related news or updates. The time mentioned, 7:00-12:00, could be a window for some sort of event or announcement. The keywords IMX, BUSD, Paxos, and Filecoin virtual machine, suggest specific entities or components involved in the message. IMX could be referring to the iMX platform, which is a blockchain-based tokenization platform for real estate assets. BUSD is likely to be the Binance USD stablecoin, which is pegged to the…

On February 20, it was reported that if the United States Securities and Exchange Commission formally filed a lawsuit against Paxos, it would have a significant impact on the stable currency market worth 137 billion dollars. Renato Mariotti, partner of the law firm BCLP, said: “If the SEC accuses Paxos, any other stable currency issuer should register or prepare to fight a lawsuit with the SEC.” Mariotti said: “I believe that the SEC is likely to reach a settlement with Paxos. Paxos acknowledges that BUSD is a kind of security,…

According to reports, Coinbase said in its official tweet that this week the New York State Department of Financial Services (NYDFS) asked Paxos to stop issuing the stable currency BUSD denominated in US dollars. Coinbase did not know what aspects of BUSD the United States Securities and Exchange Commission (SEC) might be interested in, but the stable currency was not a security. Interpretation of this information: In a recent development, Coinbase, the renowned cryptocurrency exchange, has disclosed that the New York State Department of Financial Services (NYDFS) has asked Paxos,…

It is reported that the total market value of cryptocurrency fell below US $1 trillion after Paxos, the issuer of the US dollar stable currency, announced the suspension of the casting of BUSD on Monday. This is also the first time that the index has fallen in nearly three weeks. At present, it has rebounded slightly to about US $1.05 trillion. In addition, analysts believe that the upcoming U.S. inflation data and the latest regulatory actions may also be the main reasons for this decline. Christopher Newhouse, a cryptooption trader…

It is reported that Circle reported to the New York Financial Services Department (NYDFS) in the fall of 2022, complaining that the blockchain data showed that Binance did not have enough reserves to support its BUSD tokens issued through Paxos. NYDFS spokesman told Reuters that Paxos did not manage BUSD in a “safe and reliable” way, so “it violated its obligation to conduct customized regular risk assessment and due diligence updates for the BUSD customers issued by Binance and Paxos” to prevent bad actors from using the platform. ” NYDFS…

According to reports, a spokesman for the New York Financial Services Department (NYDFS) told Reuters on Monday that the management of the Paxos Trust Company’s stable and fixed currency BUSD made it open for use by bad actors. The spokesman said that Paxos “violated the obligation to carry out customized regular risk assessment and due diligence update for the BUSD customers issued by Coin and Paxos to prevent bad actors from using the platform, and the token was not managed in a safe and stable way”. Interpretation of this information:…