CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data

paxos

Former Paxos Exec: Regulators Failed to Address Crypto Collapses, Now They’re Going After 'On-Ramps'

Jesse Austin Campbell, former head of portfolio management, says that “probably, the greatest mistake you could have made is to be an onshore, regulated company in the crypto space.”

By Fran Velasquez

Feb 15, 2023 at 8:57 p.m. UTC

Feb 15, 2023

PaxosSECNYDFSCoinDesk TVJesse austin campbellColumbia University

CDCROP: The U.S. Securities and Exchange Commission seal

The SEC Is Taking Aim at Paxos and (Annoyingly) It’s Good for Bitcoin

While the largest cryptocurrency has not been a direct focus for regulators, bitcoiners should not become cheerleaders.

By George Kaloudis

Feb 15, 2023 at 2:32 p.m. UTC

Feb 15, 2023

PaxosSECStablecoinTetherBUSDBinanceBitcoinRegulationOpinion

Algorithmic stablecoins seek balance through unconventional means. (eswaran arulkumar/Unsplash)

BUSD Stablecoin Inches Toward $1 Peg After Binance CEO Comments

Changpeng Zhao on Tuesday distanced himself from the Binance-branded stablecoin.

By Shaurya Malwa

Feb 15, 2023 at 9:40 a.m. UTC

Feb 15, 2023

StablecoinTradingBUSDPaxos

TuongVy Le, a partner and head of regulatory & policy at investment firm Bain Capital.

Former SEC Chief Counsel Says Agency Needs to Make Clear Its Crypto Compliance Rules

“When the SEC tells us that something is not compliant, it’s not necessarily the same thing as telling us what they would consider compliant,” said TuongVy Le, a partner and head of regulatory and policy at investment firm Bain Capital.

By Fran Velasquez

Feb 14, 2023 at 8:07 p.m. UTC

Feb 14, 2023

PaxosKrakenBain CapitalTuongvy leCoinDesk TVStakingRegulationSECUS

Podcasts

Crypto Update | Contentious Uniswap Vote Highlights the Opaqueness of Decentralized Governance

With crypto markets fluctuating on hotter-than-expected CPI data, plus a look at DeFi’s faults, CoinDesk’s “Markets Daily” is back with the latest news roundup.

By Adam B. Levine Adrian Blust

Feb 14, 2023 at 6:45 p.m. UTC

Feb 14, 2023

PodcastsMarkets DailyUniswapSECBinanceDeFiBUSDStablecoinPaxosFTX

Consensus Magazine

Opinion

Stablecoins Are Not New. So Why Are Regulators Attacking Paxos?

Former Paxos head of portfolio management for BUSD argues that stablecoins can be as safe as regulated financial products like money market funds.

By Austin Campbell

Feb 14, 2023 at 4:00 p.m. UTC

Feb 14, 2023

OpinionPaxosBUSDStablecoinsbanksSEC

Markets

Stablecoins

Investors Rush to Tether as Paxos' BUSD Faces Regulatory Heat, Curve Liquidity Pools Show

Investors are fleeing the Paxos-issued stablecoin even though the firm gave assurances it is fully backed and will be wound down in an orderly manner, one observer said.

By Omkar Godbole

Feb 14, 2023 at 12:29 p.m. UTC

Feb 14, 2023

StablecoinsPaxosBUSDMarketsDeFi

Markets

Binance

Binance Withdrawals Surge as Paxos-BUSD Drama Weighs on the Exchange

Binance has endured some $831 million of net outflows in the past 24 hours, Nansen data shows. Monday’s outflow is the largest in a day since November.

By Krisztian Sandor

Feb 13, 2023 at 11:00 p.m. UTC

Feb 13, 2023