Paxos set to withdraw from Canada amid regulatory uncertainty
Paxos assured its customers that their funds would "remain safely" in their accounts, but advised users to withdraw all balances from their accounts at their earliest convenience.
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Tether supply hits $80B for the first time since May 2022 — stablecoin rivals stumble
Tether supply across cryptocurrency exchanges has dropped 28% in 2023, however, hinting at an overall decline in demand for stablecoins.
Crypto Friendly Bank Silvergate Shuts Down
Silvergate Bank is winding down operations, but it assured that all customer deposits would be fully repaid. Traditional Banking Risks Another pillar of the crypto industry has succumbed. Silvergate Capital...
Redemption and Reshuffling: BUSD’s Exit From Top 10 Cryptocurrencies Shakes Market Valuations
It has been 21 days since Paxos revealed that it would no longer mint the stablecoin BUSD. Since then, over 7 billion BUSD stablecoins have been redeemed. Prior to the…
Here’s how Binance is mitigating its stablecoin needs after BUSD ban
The recent action from Binance comes in the wake of the NYDFS ordering BUSD issuer Paxos to stop minting new coins.
Coinbase cutting ties with Silvergate forces crypto hedge fund to find a new bank
A total of five crypto companies end their partnership with Silvergate bank on March 2 after a series of lawsuits and investigations against the fintech bank.
Circle, Paxos, Bitstamp and Galaxy join Coinbase in scaling back partnerships with Silvergate Bank
Silvergate is reportedly facing an investigation from the United States Department of Justice over its alleged role in the FTX collapse, involving Sam Bankman-Fried's account.
BUSD Stablecoin Drops from Top 10 Crypto Assets Amid Significant Decrease in Dominance
After Paxos announced that it would no longer mint the stablecoin BUSD, 4.98 billion BUSD stablecoins have been removed from circulation to date. The Paxos-managed stablecoin has also fallen out…
Paxos is engaged in ‘constructive discussions’ with SEC: Report
The stablecoin issuer is currently facing a lawsuit from the SEC in which the financial regulator claimed BUSD was an unregistered security.
The fate of dollar-pegged stablecoins in question: Law Decoded, Feb. 13–20
The United States Securities and Exchange Commission (SEC) ordered Paxos Trust to stop issuing Binance USD. That could affect the whole stablecoins ecosystem.