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.”

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Finance

Stocks making the biggest moves midday: Jabil, JetBlue, Sunrun, Valero, Verve Therapeutics and more

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Finance

Stocks making the biggest moves premarket: Sunrun, Verve Therapeutics, T-Mobile and more

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JPMorgan Chase unveils new Sapphire Reserve card perks and 5 annual fee

Finance

JPMorgan Chase unveils new Sapphire Reserve card perks and $795 annual fee

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