Paxos and MercadoLibre partner up to bring USDP to Mexico
The move provides PAX coin access to Mexico’s 3.1 million-plus cryptocurrency users. Go to Source Powered by WPeMatico
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New exchange EDX reportedly switching out Paxos’ custody services for Anchorage’s
The new exchange does not custody customer funds itself to avoid a conflict of interest — and a hot-button issue with the SEC. Go to Source Powered by WPeMatico
BUSD falls to fourth position among stablecoins
After a dip of over $1 billion in the past 30 days, BUSD now sits at the fourth position in market capitalization among stablecoins. Go to Source Powered by WPeMatico
Binance denies fund mismanagement allegations, calls it ‘conspiracy theory’
A mainstream report citing multiple insiders claimed that Binance mingled customer’s funds with corporate funds at Silvergate Bank. Go to Source Powered by WPeMatico
With Close to 10 Billion Stablecoins Redeemed, BUSD’s Supply Drops to Lowest Level Since April 2021
Statistics recorded on April 15, 2023, show that the number of coins in circulation for the stablecoin BUSD dropped below the 7 billion range to 6.68 billion, marking the lowest number of BUSD in circulation since April 2021. Furthermore, data indicates that the supply of BUSD has shrunk by 19.8% over the past 30 days. … Read more
Enterprises should seek partners and solutions during the crypto winter: Paxos report
“We need more transparency over the reserves of these stablecoins, which I think we’re going to see,” Clara Medalie said. Go to Source Powered by WPeMatico
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. Go to Source Powered by WPeMatico
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. Go to Source Powered by WPeMatico
Binance Converts $1 Billion BUSD Into Bitcoin, BNB, and Ethereum
On Monday, Binance CEO Changpeng Zhao, also known as CZ, announced that the company had decided to convert $1 billion worth of BUSD from the Industry Recovery Initiative fund into three different cryptocurrencies. Zhao noted that significant onchain movements would be noticeable following the announcement. CZ’s Decision to Convert $1 Billion BUSD Comes Amidst Troubles … Read more
Coinbase, Celsius and Paxos disclose funds in Signature Bank
The crypto-friendly Signature Bank was a key partner for many crypto firms, some which have been voluntarily disclosing their exposure to the recently closed firm. Go to Source Powered by WPeMatico
