By samuel mbugua

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Is Russia Alone?

Antonio Guterres Denounces Russia On the one-year anniversary of Russia’s invasion of Ukraine, UN Secretary-General Antonio Guterres delivered a stirring […]

BUSD Paxos’ Headache

The U.S. Securities and Exchange Commission (SEC) has criticized Paxos, a regulated stablecoin issuer, over its stablecoin, BUSD, which is used by cryptocurrency exchange Binance.  In response to the news that the SEC has sued Paxos over BUSD, Binance’s BNB token plunged from $310 to $290, according to a Twitter thread by cryptocurrency YouTuber Crypto Jargon.  Although BUSD does not use the name or branding of Binance, the exchange does use it. According to Binance, Paxos will continue to oversee the redemption of BUSD and is governed by the New York State Department of Financial Services. The SEC’s claim that BUSD is an unregistered security has, however, led to the peg of the coin falling. Read More: The S&P 500 Fell for the fourth straight session BUSD is not associated with Binance […]