Paxos ordered to cease minting Binance stablecoin by New York regulator

Key Factors

New York point out regulators requested Paxos to halt minting new Binance USD tokens, Binance CEO Changpeng Zhao mentioned on Twitter.
The Ethereum-created BUSD tokens are backed by some $16 billion worth of Treasurys and repos.
The regulator explained it issued the get Monday “as a final result of a number of unresolved challenges linked to Paxos’ oversight of its connection with Binance.”

Supply

Finance

Bessent says interviews for ‘incredible group’ of potential Fed chairs will start after Labor Day

August 19, 2025

Key Points Treasury Secretary Scott Bessent said he will begin interviewing candidates for Fed chair soon as the White House whittles down what has suddenly become a crowded field of 11 candidates. In a CNBC “Squawk Box” interview, Bessent repeated the administration’s desire for easing, saying it would help the moribund U.S. housing market. Source

Finance

Stocks making the biggest moves premarket: Intel, Palo Alto Networks, Best Buy and more

August 19, 2025

Check out the companies making headlines before the bell. Intel – Shares of the chipmaker jumped around 6% after it was announced that SoftBank will make a roughly $2 billion investment in the company, paying $23 per share for Intel’s common stock. This comes as the U.S. government reportedly has been considering taking a stake […]

Finance

Stocks making the biggest moves midday: Meta Platforms, Duolingo, Target, Dayforce, TeraWulf and more

August 18, 2025

Check out some of the companies making the biggest moves midday: Meta Platforms — The parent of Instagram and Facebook is planning the fourth overhaul of its artificial intelligence operations in six months , The Information reported late Friday, according to Reuters. Meta fell nearly 3% Monday. TeraWulf — The bitcoin miner and AI computing […]