Texas House Advances Gold-Backed Digital Currency Bill
Texas has taken its first steps in order to approve a bill that would issue a 100% gold-backed digital currency. If enacted as law, the bill, which is being discussed…
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Redemption and Reshuffling: BUSD’s Exit From Top 10 Cryptocurrencies Shakes Market Valuations
It has been 21 days since Paxos revealed that it would no longer mint the stablecoin BUSD. Since then, over 7 billion BUSD stablecoins have been redeemed. Prior to the…
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Stablecoin Market Sees Supply Increase for Tether as Competitors Decline in Light of Recent Regulatory Developments
While the stablecoin market has seen significant redemptions in the past three months, the supply of tether, the largest stablecoin by market capitalization, has increased by 2.46 billion since mid-November…
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Paxos Receives Wells Notice from SEC, NYDFS Orders Issuer to Stop Minting BUSD
According to a report published on Feb. 12, 2023, the New York-based financial institution and technology company, Paxos, has received a Wells Notice from the U.S. Securities and Exchange Commission…