BUSD issuer Paxos has categorically disagreed with the allegations by the SEC. The firm's press release indicated vigorous litigation in this matter if necessary.
USDC Issuer Circle reportedly alerted the New York Department of Financial Services last year about insufficient reserves at Binance to support the tokens issued by the exchange.
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...
Fintech giant PayPal has reportedly paused working on its stablecoin due to the renewed regulatory crackdown on crypto firms. PayPal was working with Paxos, which is currently facing a probe by the NYDFS.
Three Arrows Capital (3AC) founders Su Zhu and Kyle Davies have teamed with CoinFLEX to launch a new crypto exchange that will allow users to trade their claims against bankrupt crypto firms.
LocalBitcoins is shutting down its platform this month due to the ongoing crypto winter. The peer-to-peer Bitcoin exchange has been serving customers for more than 10 years.
Tether's latest attestation report revealed that the USDT issuer's assets exceeded its liabilities. CTO Paolo Ardoino claimed that the firm made a profit of $700 million in the last quarter of 2022.
Summary: Robinhood plans to buy back nearly $600 million worth of shares owned by the FTX Founder. Sam Bankman-Fried scooped the shares back in May 2022 through a holding company – Emergent Fidelity Technologies. The 55 million shares have been in contention since FTX filed bankruptcy last year and were...
Dookey Dash, the skill-based game launched by BAYC creator Yuga Labs last month, is plagued with rampant cheating. Players are paying thousands to boosters to pump their scores on the leaderboard.
Ishan Wahi, the former Coinbase product manager, has pleaded guilty to two counts of conspiracy to commit wire fraud in the first crypto insider trading case.
Final briefs in Grayscale vs The SEC were filed last week as the $10 billion asset manager seeks to convert its discounted GBTC shares into a Bitcoin ETF.
