Stablecoin giant Tether saw its flagship token, USDT, grow by nearly $1 billion in the aftermath of a regulatory crackdown against one of its rivals, BUSD. The token’s market cap started out at $68.47 billion on Tuesday,
Paxos receives U.S. SEC notice over Binance’s stablecoin ‘BUSD’
REUTERS/Andrew Kelly Feb 13 (Reuters) – Paxos said on Monday it had received a notice from the U.S. Securities and Exchange Commission stating it is considering recommending an action alleging that BUSD is a security and the blockchain firm should have …
What New York Regulator’s Crackdown on Binance USD (BUSD) Means for Investors
The New York State Department of Financial Services (NYDFS) has ordered crypto firm Paxos to cease minting Binance USD (BUSD). Paxos says it will stop issuing new BUSD from Feb. 21, and that it will …
Paxos ‘categorically disagrees’ with the SEC that BUSD is a security
Paxos Trust Company says it “categorically disagrees” with the United States securities regulator that has described Binance USD (BUSD) as a security. In the Feb. 13 statement, the BUSD issuer confirmed recent reports that it had received a Wells …
Stablecoins not the target in BUSD crackdown: Matrixport head of research
Crypto financial services Matrixport’s head of research believes the recent scrutiny of Paxos and its Binance USD (BUSD) token is not a direct attack on stablecoins themselves. In a Feb. 14 analysis, …
Binance USD’s $16B Market Cap Up for Grabs as SEC-Paxos Suit Stirs Up Stablecoin Rivalry
The decision by stablecoin issuer Paxos to stop issuing Binance USD (BUSD) after a fresh lawsuit from the U.S. Securities and Exchange Commission (SEC) will shake up the $136 billion stablecoin market …
Binance withdrawals and BUSD redemptions surge post Paxos crackdown
Cryptocurrency exchange Binance has seen a surge of withdrawals over the last 24 hours as investors appear to be spooked over recent news of regulatory action against Paxos and its stablecoin Binance …
US regulator orders crypto firm to stop minting Binance stablecoin
Paxos, a blockchain company, announced Monday that it had been instructed by the New York State Department of Financial Services (NYDFS) to stop issuing BUSD, a Binance-branded stablecoin pegged to …