Discover and read the best of Twitter Threads about #PAXOS

Most recents (18)

🤔 THIS #CRYPTOCRASH WILL BE HUGE

🔸#Coinbase Jan '23 attestation missed and delayed
🔸Justin staked 150.000 #Eth and use stETH on DeFi
🔸SEC targeted #Paxos
🔸#Busd deplete mode on
🔸#crypto pumped on "security risk rumors"
🔸Vitalik Buterin missed
🔸#ETH2 Shanghai soon

🔻
🔸#WBTC here and there
🔸#LIDO used in a way you should be worried
🔸#MAKERDAO high risk loading
🔸#DJI too high
🔸#US30 too high
🔸#SP500 too high
🔸Us Gov Treasury Total Default before July
🔸Inflation high
🔸Interest rate low

Few understand the risk, But they will feel it
🔻
If you are a #crypto enthusiastic, risk sits on
🔸Bridges
🔸Wrapped tokens, mostly #wbtc #weth #stEth
🔸Real risk is if Vitalik lied on #ETH2 and Rug Pull #ETH

Without #ETH almost all #crypto will blow
Wrapped tokens are perfect for laundering
Un- #stablecoin issuers will blow
Read 6 tweets
🔝#Bitcoin Skyrockets to All-Time High in 2023: Is it the Right Time to #Invest?💥

📰Let’s dive into your weekly digest of specially curated reads by #Matrixport 📰

What’s #trending in #cryptocurrency?
⬇️⬇️⬇️ Image
1️⃣ #Bitcoin Rockets Past $24.7K to Reach 2023 High

2️⃣ #Paxos Reportedly Ordered to Stop Issuing #BUSD; #Tether’s #USDT Gains $1b

3️⃣ #Polygon Announces Launch Date for #zkEVM #Mainnet Beta in March
4️⃣ #Binance and #HuobiFreeze $1.4M in #Crypto Tied to #HarmonyBridge Theft

5️⃣ #ConfluxNetwork Partners with #China Telecom to Build #Blockchain-Enabled SIM Cards

READ OUR #NEWSLETTER IN FULL: bit.ly/3XIWLxQ
Read 4 tweets
IS 𝐁𝐈𝐍𝐀𝐍𝐂𝐄 UNDER 𝐀𝐓𝐓𝐀𝐂𝐊 ❔ 😱

Let's take a deep dive to know what's going on.

🧵👇
♦️There are few things that are certain in #Crypto : prices going up and #FUD against #Binance .

♦️Since the #FTX collapse, Binance has been targeted by regulators, media companies, and individuals.
♦️This has led people to wonder whether regulators will crush Binance.

♦️ Let’s see what the FUD is around Binance and its impact on the market and your portfolio 👇
Read 14 tweets
🚨 Paxos-Binance USD Issue Sparks Concerns over Stablecoin Oversight and Backing 🤔

Sub to our TG
t.me/matrixportupda…

🔢 What You Need to Know in 10 Bullet Points: 📝

#BUSD #Paxos #Binance #Stablecoins #Crypto 💰
1/ 🟢 #Paxos, a regulated trust company based in New York, issues and redeems the dollar-backed token #BUSD, licensed to be called "#BinanceUSD," a #stablecoin.
2/ 📉 In the past 24 hours, #BNB has dropped -6%, and around $2.4bn of shorts have been put on. But the issue does not appear to be around #stablecoins per se, what the market initially feared, but rather that #Paxos was not stringent enough with its oversight of the #BUSD.
Read 12 tweets
⚠️LA SEC VUOLE DISTRUGGERE LE CRYPTO?⚠️

No.

Facciamo un breve #thread "storico"🧵⬇️
1/ Aprile 2022:

Mi sento nostalgico e voglio tornare a quando non esisteva #ChatGPT, gli #UFO erano lontani e @SBF_FTX era solo un trentenne disagiato.

Eravamo tutti long su #TerraClassic mentre @PaxosGlobal pubblicava questo statement su #BUSD:

paxos.com/2022/04/07/bus…
2/ Settembre 2022:

Il messaggio di Paxos è rimasto nell'ombra per mesi.

Nel frattempo l'estate ci stava lasciando e #Binance decideva di convertire tutte le #StableCoin (tranne #USDT) in #BUSD

en.cryptonomist.ch/2022/09/06/bin….
Read 15 tweets
⚠️ALERTA: #BUSD DESAPARECERA❓⚠️

La #SEC sigue imponiéndose con Regulaciones y ahora la arremetida ha sido contra Paxos, teniendo como consecuencia que no emitan más Tokens #BUSD acá te lo explico ⬇️

🧵(0/13)

⏰Tiempo de lectura: 2'
En un comunicado emitido hoy 13 de febrero, la plataforma de tokenizacion y blockchain #Paxos informó que cesaría su relación con @Binance respecto a lo relacionado con la stablecoin #BUSD dejando de emitir nuevos tokens a partir del 21 de febrero

prnewswire.com/news-releases/…

1/13
Algunos medios reseñaron que Paxos había sido demanda por la SEC, lo que ocurrió fue que recibieron un “Aviso de Wells”,es decir, una notificación emitida por la SEC y la NASD, para informar a una compañía que será investigada por indicios de haber infligido la legislación

2/13
Read 14 tweets
🚨¿BUSD y BINANCE EN PELIGRO?🚨

Los reguladores de Nueva York ordenan al emisor de la Stablecoin de #binance que deje de mintear nuevos #BUSD

¿Pero qué podría provocar esto? ¿Supondrá la desaparición del BUSD? ¿Está Binance en Peligro?

Os cuento todo ABRO HILO 1/ 🧵
2/ La pasada madrugada del 12 al 13 de febrero, se publicó una noticia que puso a Binance en el Punto de Mira de los reguladores

En la que la SEC ANUNCIó una Demanda al emisor de Stablecoins #Paxos, por violar las leyes de protección de inversores en relación con el #BUSD
3/ Un aviso que Alegaba que el #Binance USD no es un valor registrado, y ante el que el acusado tendrá 30 días para demostrar que hay motivos suficientes por los que no se deben demostrar cargos.
Read 17 tweets
What if $BUSD as a security was a red herring all along?

Stay with me for a minute.

Looking at the case law, unless there are facts we are unaware of, it would be very challenging and nothing short of legal gymnastics to even attempt to argue $BUSD on Paxos is a security.
The caselaw can be found here. Everyone is looking at the Howey Test, but the real meat of the matter is likely to be covered by a different case Reves Et Al. v. Ernst & Young found here:

scholar.google.com.sg/scholar_case?c…
But bear in mind, a Wells notice is merely a formal letter informing the recipient of an intention to litigate and providing an opportunity for the respondent to provide cause as to why the @SECGov should not proceed.
Read 10 tweets
🚨AGGIORNAMENTO SU BUSD🚨

@cz_binance ha appena scritto un tweet sulla situazione attuale di #BUSD

Vediamo insieme cosa ci dice e facciamo qualche breve riflessione 🧵⬇️

1/ ✋Il NYDFS ha ordinato a #paxos di fermare la coniazione nuovi BUSD.

La #stablecoin sarebbe una security secondo il Dipartimento dei servizi finanziari di New York

it.cointelegraph.com/news/paxos-ord…
2/ 🏪 Secondo le parole di #cz_binance questo non comporterà un'interruzione nei servizi di gestione e di rimborso di BUSD da parte di @PaxosGlobal

Fermare la coniazione di nuovi BUSD potrebbe però portare a una contrazione della capitalizzazione di mercato
Read 15 tweets
So $BUSD is "SAFU"?

It depends - it's important to recognize the QUALITATIVE difference between $BUSD on the #ethereum #blockchain that is issued by @PaxosGlobal and regulated by the @NYDFS and the stuff that exists on the #BNBChain.

And boy is there a HUGE difference.
Just because #Paxos can't mint anymore $BUSD, doesn't mean that it's worthless, it ought to be redeemable (possibly at a discount) but not for zero.

$BUSD on the #BNBChain is an entirely different story.

Remember, $BUSD that's on the BNB Beacon Chain or BNB Smart Chain...
is supposed to be backed by $BUSD in the attestation wallets on #Ethereum with the equivalent #Paxos product.

So while Paxos can't mint anymore $BUSD, there's technically nothing stopping @binance from minting as much $BUSD as it likes on other blockchains.
Read 4 tweets
OG: @pandanaiksapi:
#Binance is the largest crypto exchange in the world with a daily volume of over $15 billion, 10x bigger than the second. It's considered the safest for trading and storing #crypto assets, but is it truly #SAFU? #crypto #trading
A 🧵from a stupid trader (1/?)
Binance, founded by @cz_binance in 2017, has its origins in China. Due to the government's ban on #crypto, it had to move its headquarters to Japan. However, as Japan also started to implement stricter regulations for #crypto, Binance had to move again, this time to Malta. (2/?)
On Feb 21, 2020, the Malta Financial Services Authority (MFSA) announced that @binance does not have an operating license. Binance has also been investigated multiple times by the IRS and the US Department of Justice on charges of money laundering.


(3/?)
Read 42 tweets
🚨 The @justinsuntron is super active on #Tron today.

Here's what he did:

1. Withdraw 62M USDT on #Justlend
2. Buy 2M USDD using 2M USDT on #Sun
3. Withdraw 6M USDC on #JustLend and transferred out
4. Transfer 60M USDT to @binance

tronscan.org/#/address/TPyj…
Based on the record, Justin usually:

1. Transfer $USDT on #Tron to binance
2. Transfer $USDC/ $BUSD out from binance on Ethereum
3. Cashed out them on #Paxos and #Circle.

Let's see if Justin will do this again.

Since the last time we posted about this, Justin cashed out $88.5M $BUSD on the last day of 2022.
Read 5 tweets
1/ @ambergroup_io appears to be on the verge of bankruptcy.

We analyzed 6 Ethereum wallets of Amber and found:

- $9.46M assets in total.

- Amber transferred ~36M $BUSD to Paxos and 10,422 $ETH ($13.12M) to a new address.

- Amber traded 4 hours ago.
👇
2/ Here is the 6 Ethereum wallets of Amber.

$9.46M assets in total, including:

- 3,990 $ETH($5M)
- 1,111,841 $USDC
- 1,652,678 $USDT
- 29,182 $BUSD Image
3/ Amber transferred ~36M $BUSD to #Paxos in the past 7 days.

etherscan.io/address/0x1f23… Image
Read 5 tweets
#NYDFS issues USD backed #stablecoin guidance; must be fully backed by an asset reserve; issuer must adopt a clear redemption policy, approved by DFS in writing (!!!) redemption at par in fiat; reserve must be held in custody with /1
dfs.ny.gov/reports_and_pu…
US state/federally chartered depository institutions and/or asset custodians. Reserve must be held in govt treasuries "subject to DFS- approved reqs re: overcollaterialiation." Reserve must be subject to independent audit 1x month by independent CPA under AICPA attestation /2
standards. DFS may also impose obligations regarding cybersecurity and IT standards and evaluate issuer BSA/AML & Sanctions compliance, safety and soundness of the issuing entity; and the stability/integrity of the payment system, as applicable on Issuers. /3
Read 10 tweets
🧵 HILO STABLECOINS🧵

▶️ Después de lo sucedido con $Luna y su stablecoin $UST, creemos que es muy importante saber en qué se diferencian $USDT, $USDC, $BUSD, $UST y $DAI.

¡Like ❤ y RT 🔁 para más hilos!

[1/30]
⚖️ ¿Qué son las stablecoins? ⚖️

▶️ Son activos digitales desarrollados para replicar el precio de una moneda fiduciaria o bienes materiales de valor

▶️ Las monedas estables están diseñadas para proporcionar estabilidad cuando los precios fluctúan enormemente

[2/30]
¿Cuántos tipos de stablecoins distintos hay?

Hay cuatro:
▶️ Respaldada por fiat ( $USDT, $USDC o $BUSD )
▶️ Respaldada por criptomonedas ( $DAI )
▶️ Respaldada por materias primas ( $PAXG )
▶️ Basadas en algoritmos ( $UST )

[3/30]
Read 30 tweets
1/21
Stablecoins

It’s been a brutal week for most crypto holders with extreme selloffs on nearly all assets.
A lot of people fled to the safety of stablecoins thinking they were safe.

But UST depegged and FUD now also reached USDT.
Do your research & know your investment! 🧵👇 Image
2/
Coins we're looking at:
* #USDT
* #USDC
* #BUSD
* #UST
* #DAI
* #FRAX
* #MIM
* #TUSD
* #USDP

It's a lot of information to take in but it's important to understand in what asset you park your money. Always DYOR! This is meant as a rough guide for understanding.
3/
#USDT
* Controversial, yet most popular.
* Lots of indications that the 1:1 fiat to crypto backing they claim to have is in fact false.
* April 2019: Tethers own lawyers had to admit that the company had only 74% of the #USDT in fiat backing (tinyurl.com/3ce233zc).
Read 21 tweets
🚨 BREAKING: The U.S. Senate sent a letter requesting immediate information from #Tether about their reserves, redemption process, issuance, and activities due to "several market integrity concerns" as stated by the PWG.

Tether has been given 10 days to respond. #Retweet
Question number 5. This is going to be so much fun! 🙈
Interesting Note: The letter is addressed to #Tether CEO Jean Louis van der Velde, who hasn't been seen/heard for quite time...
Read 12 tweets
Having #LambdaWorld withdrawal? We've got you covered with videos of presentations from the event. Let's kick things off with coverage from Lambda World Seattle!
Watch @kmett's opening keynote, There and Back Again from #LambdaWorld Seattle!
Learn how to bring the jewels of the #Python world to #Scala with @ApacheSpark in @holdenkarau's #LambdaWorld Seattle talk. Watch here:
Read 7 tweets

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