NFT Collection The Superlative Secret Society Price, Stats, and Review
Reserve Bank of New Zealand Releases Digital Currency Consultation Paper
Coinbase Vs SEC: Pro-XRP John Deaton To Appear As Amici Counsel
Bitcoin Meme Coin: PUPS Pumps 20% On Whale Accumulation and Runes
BREAKING: Bitcoin Halving 2024 Is Complete! Here’s What To Expect
‘Things Could Get Really Bonkers’ – Bitcoin Primed To Explode by up to 282% if This Happens: InvestAnswers
XRP price prediction – How to stop altcoin from dipping under $0.50?
Morgan Stanley: US Dollar Has No Credible Challengers; Reserve Currency Status to Endure
Analyst Predicts Cardano (ADA) To Rally By 75% As MVRV Ratio Plummets
BlastUP Token Presale Skyrockets: Here’s Why Dogecoin and PEPE Investors Are Flocking In
Bitcoin – Runes protocol goes live after the halving, is the hype real?
By The Numbers: How Much Profits Are Bitcoin Whales & Miners Holding?
Worldcoin Rejects Buenos Aires’ Claims Regarding Abusive User Contract Clauses
Cardano’s potential 75% price hike must wait until THIS prediction pans out
One Project Man? Ripple CTO Clarifies Where His Loyalty Lays
SEC Vs Justin Sun Case Update: Regulator Provides Additional Information In Lawsuit Against Tron Founder
Is Bitcoin’s halving a ‘sell the news event that is already priced in?’
Analyst Reveals Bitcoin’s Bull Market Breakthrough: Here’s What You Need To Know
How Do Crypto Market Capitalizations Actually Work?
Legendary Boxer Mike Tyson Joins Blockchain Social Network
Is AVAX undervalued? These key indicators might have all the answers
Injective Votes On Major Upgrade To Make INJ Even More Deflationary: Will Prices Recover?
As Bitcoin Halves, On-Chain Data Shows That Old Whales And Miners Are Big Winners
Paxos CEO responds to Tether allegations: ‘We knew this was coming’
Following the news that NY State Attorney General is suing cryptocurrency exchange Bitfinex and its affiliated stablecoin company Tether, other stablecoin issuers have rushed to distance themselves from the turmoil.
Among these companies is Paxos, whose CEO Charles Cascarilla told The Block that he was not surprised by the news.
“The industry is trading billions of dollars worth of cryptocurrencies daily, and relying on these exchanges and stablecoins that have no licensing, no registration, no oversight. It's bad for business and reckless in the long term,” said Cascarilla. “We knew this was coming - and we’ve been expecting the tide to turn. That’s why we built Paxos within the framework of regulation and oversight for both our PAX stablecoin and itBit exchange.”
PAX is one of the two U.S. dollar-pegged stablecoins approved by the New York Department of Financial Services (NYDFS).
Cascarilla also stressed the importance of government oversight of the cryptocurrency market.
“The news today reinforces our belief that regulation and oversight create confident and stability for the industry and Paxos is proud of its NYDFS-granted Trust charter, the highest form of regulation in the space,” said Cascarilla.