Summary The US Securities and Exchange Commission (SEC) is investigating whether stablecoins are among the products that were issued in violation of investor-protection laws. Stablecoins are a form of cryptocurrency that makes it easier to trade other digital assets. Each…
Binance USD Stabilizes at $1 After CEO Clarifies Paxos Connection
Binance USD (BUSD) Stabilizes at $1 • Binance USD (BUSD), the third-largest stablecoin by market cap, has stabilized at its intended $1 peg after Binance CEO Changpeng Zhao clarified the connection to the Paxos Trust Co.-issued token. • Paxos has…
DebtDAO Burns 18M $FUD Tokens to Manage Skyrocketing User Demand
• DebtDAO is issuing FTX User Debt (FUD) tokens in order to raise capital to repay the creditors of FTX. • As a result of the high subscription, the $FUD price rallied beyond the sending price, prompting DebtDAO to initiate…