Discover and read the best of Twitter Threads about #Paxos

Most recents (18)


🔸#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
🔸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 4 tweets

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…

🔢 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


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:…
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….
Read 15 tweets

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 ⬇️


⏰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…

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

Read 14 tweets

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:…
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

@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…
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.

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…
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.… 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…
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

▶️ 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!

⚖️ ¿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

¿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 )

Read 30 tweets

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
Coins we're looking at:
* #UST
* #DAI
* #MIM

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.
* 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 (
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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