Paxos
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Paxos will exit the Canadian market next month
According to reports, crypto financial service provider Paxos will exit the Canadian market. The company informed Canadian customers in an email today that \”Paxos has decided to no
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BUSD’s Market Value Drops by over 30% in One Month
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 $
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Paxos Receives National Banking License Approval from OCC
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
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Paxos Recruits New Portfolio Management Manager to Oversee $20B Reserves
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
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Digital Asset Company Paxos Has Over 10 Million Active Digital Wallets Worldwide
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
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Paxos Processes $7.9 Billion BUSD Redemptions In 32 Days Without Losses Or Market Chaos
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 by NYDFS Trust and fully supported by USD cash and cash equivalents at a 1:1 ratio. Paxos will provide support for the circulation of BUSDs for at least one year, and all other Paxos products will not be affected by BUSD redemptions. Paxos: Process over $7.9 billion in BUSD redemptions within 32 days, and will provide support for at least another year Analysis based on this information:Paxos, a blockchain-based trust,…
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Paxos Ensures Stability for Stable Currency Reserve
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. Paxos: Currently, the deposit in Signature Bank is 250 million US dollars Analysis based on this information:Paxos, the issuer of stable currency, announced on March 13 that the current deposit in Signature Bank was 250 million US dollars and the deposit insurance system had been established. This announcement assured customers that all Paxos stable currency reserves are fully supported and can be redeemed to customers at any time at the ratio of US $1:1. Stable currency is a type of cryptocurrency that is designed to maintain a stable value. Its value is pegged to a more stable asset, such as the US dollar,…
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Paxos distances itself from Bank of Silicon Valley
It is reported that Paxos, an American encryption infrastructure company, has no relationship with Bank of Silicon Valley.
Paxos: No relationship with …
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Paxos and Silvergate Bank: A Break In Connection?
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…
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BUSD’s Circulation Supply Declines to 9.5 Billion USD as Redemptions Rise
According to the report, the data showed that as of the time of press release, the circulation supply of the stable currency Binance USD (BUSD) issued by Paxos…
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Coinbase Suspends BUSD Trading: A Move Done Out of Liquidity Concerns
According to reports, Brian Armstrong, CEO of Coinbase, said on Wednesday that the decision of the Exchange to suspend BUSD trading was due to liquidity concerns. Armstrong said: “The reason we did this is that the issuer of BUSD, Paxos, has been ordered to stop casting it, so we are worried about the liquidity of customers.”. Coinbase CEO: The decision to remove BUSD from the shelf is based on the concern about liquidity Analysis based on this information:Coinbase, one of the leading cryptocurrency exchanges in the world, announced on Wednesday that it had suspended trading for the stablecoin BUSD. Brian Armstrong, the CEO of Coinbase, justified the move by citing concerns over liquidity. He explained that the reason behind this decision was Paxos, the issuer of BUSD, has been ordered to stop casting it. Hence, there is a potential risk regarding the liquidity of Coinbase’s customers, which could be harmful to the overall experience. The suspension of BUSD trading occurred…
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Paxos assures protection of customer funds through banking partnerships
It is reported that Paxos, the issuer of the US dollar stable currency BUSD, released a statement to Silvergate Bank on social media. Paxos said that it had no…
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Paxos Treasury Destroys Over 162 Million BUSDs
According to reports, Whale Alert data showed that at 22:34:35 Beijing time on February 24, Paxos Treasury destroyed 162499505 BUSDs.
Paxos Treasury de…
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US Regulators Aim to Stabilize Currency Market
It is reported that stabilizing the currency market has become a major goal of US regulators. After the news that BUSD (the dollar-based stable currency of Bin…
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Paxos Challenges SEC’s “Wells Notice” Claiming BUSD as Security
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 …
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Paxos having “constructive discussion” with SEC about registering BUSD as security
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 …
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Paxos Destroys 122 Million BUSDs: What This Means for Cryptocurrency Hype
According to reports, Whale Alert data monitoring shows that Paxos destroyed 122 million BUSDs at 14:54 today.
Whale Alert: Paxos destroyed 122 million…
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IMX, BUSD, Paxos, and Filecoin Virtual Machine: The Future of Decentralized Finance
7:00-12:00 Keyword: IMX, BUSD, Paxos, Filecoin virtual machine
Summary of important developments at noon on February 20
Interpretation of the news…
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Paxos Destroys 91.19 Million BUSDs: What This Means for the Crypto Market
According to reports, Whale Alert data showed that Paxos destroyed 91.19 million BUSDs today.
Paxos destroyed 91.19 million BUSDs today
Interpreta…
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Potential Impact of SEC Lawsuit Against Paxos on Stable Currency Market
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 significan…