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Paxos
PayPal Facing SEC Subpoena Linked to Stablecoin Could Be a 'Power Grab,' Former Paxos Exec Says
PayPal received a subpoena from the SEC recently, requesting documentation about its stablecoin PYUSD. Columbia Business School adjunct professor and former Paxos head of portfolio management Austin Campbell discusses the agency's latest move, explaining why he thinks this is a "pretty transparent attempt at intimidation and a power grab, especially against another U.S. regulator." Plus, Campbell's reaction to FTX founder Sam Bankman-Fried's guilty verdict and the outlook for the crypto industry.
Ex-Celsius Exec Pleads Guilty; Coinbase Earned $1M Amid Hack
"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest crypto headlines today, including details on a former Celsius Network executive pleading guilty to U.S. criminal charges. According to market observers, Coinbase is sitting on a roughly $1 million profit tied to a hack. And, bitcoin mining pool F2Pool has returned 19.8 bitcoin (BTC) to Paxos.
Bitcoin Miner F2Pool Returns 19.8 BTC to Paxos After Overpaid Fee
Paxos paid $520,000 for a $2,000 bitcoin transaction earlier this week.
Binance to 'Gradually' End Support for BUSD Products
The move follows Paxos' decision to halt minting of new BUSD.
Paxos Has Other 'White Label' Stablecoin Opportunities in the Works in Addition to PayPal USD
Paxos is the issuer of PYUSD, the dollar-backed stablecoin launched by the payments giant on Monday.
Paxos Has Other 'White Label Stablecoin Opportunities' in the Works, Head of Strategy Says
PayPal USD is the first regulated stablecoin from a global payments company. The Ethereum-based token will be available to PayPal users in the U.S. and is being issued by Paxos Trust Company. Paxos head of strategy Walter Hessert discusses teaming up with PayPal and notes the firm has "other white label stablecoin opportunities in the works."
PayPal's Stablecoin Launch Is a 'Seminal Moment' for the Industry: Paxos Head of Strategy
Global payments giant PayPal is launching its own U.S. dollar-pegged stablecoin, PayPal USD (PYUSD). The Ethereum-based token will be available to PayPal users in the U.S. and is being issued by Paxos Trust Company. Paxos Head of Strategy Walter Hessert discusses the partnership, the use cases of stablecoins, and the state of U.S. regulatory oversight for the crypto sector.
PayPal’s Regulated Stablecoin Is ‘Watershed Moment’ in Crypto, Says Partner Paxos
That's because the token is being issued by Paxos, a regulated company, which means holders will have more protections, a Paxos exec says.
MakerDAO Hikes DAI Savings Rate, Ousts Paxos Dollar, Curbs Gemini Dollar in Reserve
The move could redefine baseline interest rates in the DeFi space, spurring higher stablecoin lending rates and making leverage more expensive, one analyst noted.
MakerDAO Votes to Ditch $500M in Paxos Dollar Stablecoin From Reserve Assets
The result is a significant blow for Paxos as MakerDAO currently holds roughly half of USDP’s total supply.
