F2Pool Co-founder: Due to Time Zone Differences, the Deadline for Paxos to Claim Nearly 20 BTC Fees Has Passed
F2Pool co-founder Wang Chun posted a message regarding "Paxos claiming nearly 20 BTC fees", stating that due to time zone differences, the claim was actually made after the original deadline.
Wang Chun said: "I am very angry and regret agreeing to return those 20 BTC. Especially when I saw the claimant always saying it was EST instead of EDT/UTC time. The last time someone did this with Zcash, I banned his entire company."
Paxos Releases First Pyusd Transparency Report: All Transactions Are Overcollateralized
September 13th, Paxos released its first PYUSD transparency report, which disclosed unaudited data on PYUSD as of August 31st EST, including: the total outstanding amount of unpaid tokens (Total Tokens Outstanding) is about $44.37 million; the current market value of the collateral for the US Treasury repo agreement is $43.86 million, with a nominal position value of $43 million; the current market value of the collateral for other cash deposits held by the custodian is about $1.5 million; the current market value of the collateral in total net assets is $45.36 million, with a nominal position value of $44.5 million.
Data: Paxos Still Hosts Over 90% of PYUSD Supply
Blockchain analytics company Nansen's data shows that Paxos still custodies over 90% of PYUSD supply, with only a small percentage of users holding and using PYUSD in self-custodied wallets. Nansen suggests that "smart money" holders seem to be avoiding stablecoins, while exchanges such as Kraken, Gate.io, and Crypto.com hold only slightly more than 7% of the supply. Less than 10 non-contract or exchange holders have balances over $1,000.
Paxos and MercadoLibre Partner to Bring Stablecoin to Mexico's MercadoPago Payment Service
June 28 (Cointime) - Blockchain fintech company Paxos has partnered with online marketplace MercadoLibre to bring the Pax Dollar (USDP) stablecoin to Mexico via the MercadoPago payment service. USDP will be available to all MercadoPago customers in Mexico, where cryptocurrency use currently has a 9.3% penetration rate with over 12 million users.
SEC Alleges Binance Sent Nearly $20 Billion of Commingled Funds to Paxos Foreign Affiliate in 2021
According to a declaration by an Assistant Chief Accountant of the U.S. Securities and Exchange Commission (SEC), Binance allegedly sent nearly $20 billion of commingled funds to a foreign affiliate of stablecoin issuer Paxos in 2021.
Paxos Expands Partner Network in Latin America to Introduce Regulated Blockchain Infrastructure and Tokenization Platform to Global Enterprises
Paxos has expanded its network of partners in Brazil and other parts of Latin America as part of its plan to introduce its regulated blockchain infrastructure and tokenization platform to global enterprises.
MakerDAO Community Votes to Drop $500M USDP Stablecoin from Reserves
MakerDAO's community has voted to remove $500 million worth of USDP stablecoin from its reserves, dealing a blow to Pax Dollar as it held half of the token supply. The MakerDAO treasury will now invest its vast reserves in yield-generating strategies, including Gemini and a 2.6% yield on the $500 million of USDC it holds from Coinbase Prime.
Fierce Chooses Paxos to Power Digital Asset Buy, Sell & Hold Capabilities
Paxos, the regulated blockchain infrastructure platform for enterprises, and Fierce, the innovative financial super app that empowers individuals to leverage the best of fintech, have announced that Paxos will power Fierce's new digital asset experience via the Fierce mobile application. This new functionality is open to all Fierce users.
Tether's USDT Stablecoin Market Cap Surges to $81.5 Billion Despite Regulatory Uncertainty
Tether's USDT stablecoin market cap has reached $81.5 billion, close to its all-time high of $83.4 billion. Its market share stands at 63%, its highest point in two years. Circle's USD Coin and Paxos-issued Binance USD saw a disproportionate amount of on-chain value redeemed for dollars, contributing to Tether's surge in market share.
Enterprises Should Seek Partners and Solutions During the Crypto Winter: Paxos Report
Blockchain infrastructure provider Paxos has published a report identifying key opportunities for projects during the crypto winter, including seeking solutions and partnerships. Stablecoins are identified as one of the crypto use cases that have consistently proven themselves over time, but there is still room for improvement in terms of transparency over reserves. The report also emphasizes the importance of partnering with businesses that implement technologies meeting the real-world needs of the financial sector. The CEO of the Stellar Development Foundation has argued that the US regulating stablecoins may be necessary to keep the dollar strong globally. However, a Bank of International Settlements working paper has likened stablecoins to bearer instruments and deemed them a less preferable form of tokenized money.
