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Highly likely someone has evidence that their 'stablecoin' is backed by thin air rather than actual dollars, which could be considered a minor bit of large scal
by headsoup 4y ago
Highly likely someone has evidence that their 'stablecoin' is backed by thin air rather than actual dollars, which could be considered a minor bit of large scale fraud...
- leishman 4y agoThis is how banks operate too
- pocket_cheese 4y agoThe company that mints BUSD Paxos actually is the most regulated crypto company in the US. They are a trust and have proof of reserves which is audited by a big 4 accounting firm every month. My very amateur guess is that Paxos sees stability issues with Binance and wants to cut ties, or they are getting too much regulatory scrutiny to make it worth it and are dropping them like a bad habit.
- hungryforcodes 4y agoThis for sure.
- headsoup 4y agoPaxos got served a Wells notice, with indication enforcement action will follow.
- ElfinTrousers 4y ago> audited by a big 4 accounting firm every month You say that as if it means something. Enron routinely passed audits from a Big 4 company.