Paxos
- Cryptocurrency
Did SEC Cause Binance to End Relations With its US Partners?
In accordance with a Bloomberg report, cryptocurrency exchange Binance is considering terminating partnerships with its business partners in the United States. Due to the Securities and Exchange (SEC) Commission’s tightening of regulatory standards, the market’s top cryptocurrency exchange is allegedly considering delisting tokens from any businesses situated in the United States. Video content The Atmosphere Of Binance is Tense After the Paxos Incident As the SEC filed a lawsuit against the…
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Sanctions on BUSD Seem to Have Increased Interest in Tether
Following the US regulatory crackdown against one of its rivals, BUSD, Stablecoin Tether’s flagship token USDT saw an incredible surge in market cap – from $68.47 billion on Tuesday to around $69.23 billion by Wednesday (15), according to CoinMarketCap data. This huge increase is almost equivalent to the decline observed for Binance-owned Paxos issued token BUSD, which plummeted from a market cap of $16.14 billion all the way down to…
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Paxos News Costs Binance Nearly $1 Billion
Yesterday, the cryptocurrency market trend declined after Paxos announced it would temporarily stop issuing Binance USD (BUSD). Despite recovering slightly around noon, Binance Coin (BNB) continued the week in a slump. Dune Analytics reported that on February 13th, a colossal fund outflow of almost $1 billion was observed from the Binance platform. US Regulators’ Actions Are Putting Pressure on Binance In recent weeks, the US regulatory bodies have initiated numerous…
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