A dormant Bitcoin whale recently deposited 2,300 BTC to Paxos. The whale still holds over 32,000 BTC valued at $3.4 billion.

Paxos Trust Company says it “categorically disagrees” with the United States securities regulator that has described Binance USD (BUSD) as a security. In the Feb. 13 statement, the BUSD issuer ...

Paxos and the Arbitrum Foundation say the infrastructure firm will now integrate with Arbitrum, a Layer 2 (L2) scaling solution for Ethereum. According to a company statement, Arbitrum is the first L2 ...

Digital assets company Paxos has laid off 65 people, or 20% of its staff, according to a report from Bloomberg, which in turn cited an earlier article by The Block. In an all-hands email obtained by ...

Stablecoin issuer Paxos said early Monday it will cease creating new units for the $16 billion Binance Stablecoin (BUSD) at the direction of its state regulator, the New York Department of Financial ...

What’s wrong with current stablecoins? Put simply, too much profit is directed to issuers. In most cases, the yield from reserves flows back to those managing the stablecoin rather than to its users.

Paxos's dreams of a national banking charter died last week of extreme old age. The stablecoin issuer's application for a new bank charter, originally filed in December 2020, expired on March 31, ...

But the firm said it “categorically disagrees with the SEC staff because BUSD is not a security under the federal securities laws.” It also claimed that Paxos is “always backed 1:1 withU.S.