PAXG – DIGIT INFO

FTX Debtors Report $8.9B Shortfall in Customer Funds and ‘Highly Commingled’ Assets in Latest Presentation

DIGIT — Sat, 04 Mar 2023 01:04:56 +0000

On March 2, 2023, FTX debtors released their second stakeholder presentation, which contains a preliminary analysis of the now-defunct cryptocurrency exchange’s shortfalls. The latest presentation reveals a significant shortfall, as approximately $2.2 billion of the company’s total assets were found in FTX-related addresses, but only $694 million is considered “Category A Assets,” or liquid cryptocurrencies […]

Go to Source

Nearly 3 Billion BUSD Stablecoins Have Been Removed From the Market in 6 Days

DIGIT — Sun, 19 Feb 2023 23:30:35 +0000

Six days ago, a few hours before the blockchain infrastructure platform Paxos announced it would no longer mint BUSD stablecoins, $2.86 billion worth of BUSD were redeemed. Currently, Binance is the most active exchange trading BUSD tokens, and the stablecoin still commands roughly 10.7% of the crypto economy’s $67.71 billion in global trade volume over […]

Go to Source

Paxos Receives Wells Notice from SEC, NYDFS Orders Issuer to Stop Minting BUSD

DIGIT — Mon, 13 Feb 2023 12:03:11 +0000

According to a report published on Feb. 12, 2023, the New York-based financial institution and technology company, Paxos, has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) regarding alleged violations of investor protection laws. Paxos revealed the following day that it would no longer mint BUSD and it was ending its […]

Go to Source

Dubai Multi Commodities Centre to Issue Gold Backed Tokens Using the Xinfin Blockchain Protocol

DIGIT — Wed, 23 Nov 2022 19:00:39 +0000

The Dubai Multi Commodities Centre (DMCC) has announced a new partnership with the firm Comtech Gold in order to digitize gold trading. The DMCC said the tokenized precious metals are backed by DMCC Tradeflow-registered gold bars, and each tokenized gold bar “will be backed by a Tradeflow warrant.” DMCC to Digitize Tradeflow-Registered Gold Bars via […]

Go to Source

US Law Enforcement Directs Paxos to Freeze More Than 11,000 PAXG Tokenized Gold Coins

DIGIT — Mon, 14 Nov 2022 19:30:44 +0000

According to the blockchain infrastructure company Paxos, the firm has frozen 11,184.38 pax gold (PAXG) tokens held on the platform FTX.com. The regulated token issuer noted that it was directed to freeze the PAXG tokens after “direction from U.S. federal law enforcement.” Paxos Complies With U.S. Law Enforcement Request to Freeze 11,184 PAXG Paxos updated […]

Go to Source

What is PAX Gold (PAXG) and how does it work?

DIGIT — Sun, 11 Sep 2022 14:00:00 +0000

PAX Gold is a cryptocurrency and gold hybrid that bridges the gap between the two investment options. It offers the security and stability of cryptocurrencies.

Go to Source

These Are the Crypto Economy’s 5 Most Expensive Assets per Unit in August 2022

DIGIT — Tue, 09 Aug 2022 17:30:41 +0000

On July 18, 2021, Bitcoin.com News researched the top five most expensive crypto assets and at that time there were two digital currencies worth five digits in value, two tokens worth four digits in U.S. dollar value, and one valued at three digits. Today, a lot has changed but currently, bitcoin and the token yearn […]

Go to Source

2 Tokenized Gold Crypto Projects Saw Massive Growth Over the Last 15 Months

DIGIT — Mon, 06 Jun 2022 18:00:51 +0000

15 months ago the price of one ounce of fine gold was $1,790 per ounce and since then, it has increased in value 3.51% to today’s $1,853 per ounce exchange rate. While gold has risen in value, the top two tokenized gold coins have grown significantly since then. Pax gold (PAXG), for instance, has seen […]

Go to Source

Tokenized Gold Market Caps Grew Significantly Last Month as Fresh Demand Drives Premiums

DIGIT — Wed, 23 Mar 2022 15:30:11 +0000

While gold tapped an all-time high (ATH) this year surpassing $2K per ounce, the top tokenized gold crypto assets by market valuation continue to see significant demand, premiums, and market capitalization growth. For instance, Paxos Trust Company’s PAXG market cap jumped more than 43% in 31 days from $424 million to today’s $611 million. PAXG […]

Go to Source

Gold-backed cryptos are shining in 2022, market cap hits $1B for the first time

DIGIT — Thu, 10 Mar 2022 16:20:00 +0000

PAX Gold did most of the weightlifting in pushing the gold token market cap above the $1 billion-milestone, outperforming Tether Gold.

Go to Source