Cryptocurrency

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Aave To Freeze BUSD Reserves On Ethereum

NagaNaga Avan-Nomayo·
BUSD
Summary: Aave community member Marc Zeller proposed halting the BUSD lending market on Ethereum. Zeller argued that the Paxos-issued stablecoin was bound to decline in supply and inability to mint new tokens would affect peg arbitrage opportunities. The proposal was submitted shortly after U.S. regulators ordered Paxos to halt minting...

Paxos: BUSD Redemptions Continue Till At Least February 2024

NagaNaga Avan-Nomayo·
Paxos
Summary: Paxos will wind down its relationship with Binance for the BUSD stablecoin. BUSD redemptions will continue till at least February 2024 but no new tokens will be minted following an order from the New York Department of Financial Services and an SEC lawsuit. Binance will also continue to support...

SEC Targets Binance Stablecoin, Paxos To Stop Minting BUSD

NagaNaga Avan-Nomayo·
Binance
Summary: Paxos was ordered to stop minting Binance USD (BUSD) by the New York Department of Financial Services. The order coincided with the SEC’s plans to sue Paxos for selling unregistered securities in BUSD. CEO of the crypto exchange, Changpeng Zhao, noted that his company would review other projects to...

Chiliz (CHZ) Debuts EVM-Compatible L1 Blockchain

NagaNaga Avan-Nomayo·
Chiliz
Summary: The blockchain-powered sports fan token launched its own layer 1 decentralized network on Tuesday. Chiliz’s L1 chain is compatible with the Ethereum Virtual Machine program, allowing developers to broadcast smart contract codes on Ethereum’s blockchain. The protocol’s token CHZ pumped as high as 20% on the news. Blockchain sports...