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NYDFS Fines Paxos $26.5M, Orders Compliance Overhaul in Binance Stablecoin Case
The New York Department of Financial Services announced a $48.5 million settlement with Paxos, a crypto infrastructure company. The settlement concerns Paxos' partnership with Binance and alleged shortcomings in its anti-money laundering controls. In February 2023, Paxos ceased minting Binance USD tokens following an NYDFS investigation into its relationship with Binance and AML weaknesses. Binance then gradually discontinued BUSD support across its platforms. The settlement includes a $26.5 million fine and a $22 million commitment from Paxos to enhance its compliance program. According to NYDFS, Paxos failed to ... (full story)
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From moneycheck.com|Aug 7, 2025|1 commentSEC Commissioner Caroline Crenshaw’s continued resistance to cryptocurrency exchange-traded funds (ETFs) has raised new concerns in the market. Following her dissenting vote in ...
From brecorder.com|Aug 7, 2025Ripple will buy stablecoin payments platform Rail for $200 million, the company said on Thursday, weeks after U.S. President Donald Trump signed a law that raised expectations ...
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From fxstreet.com|Aug 7, 2025Ripple (XRP) price surges to an intraday high of $3.08 and corrects to trade at around $3.05 on Thursday. The uptick in XRP upholds a short-term bullish picture, mirroring ...
From @FirstSquawk|Aug 7, 2025|117 commentsWhite House Gets Ready for Trump to Pick US CEA Chair Miran for Fed Board, Expected to Fill Seat Temporarily.
From @realDonaldTrump|Aug 7, 2025|18 comments
It is my Great Honor to announce that I have chosen Dr. Stephen Miran, current Chairman of the Council of Economic Advisors, to serve in the just vacated seat on the Federal Reserve Board until January 31, 2026. In the meantime, we will continue to search for a permanent replacement. Stephen has a Ph.D. in Economics from Harvard University, and served with distinction in my First Administration. He has been with me from the beginning of my Second Term, and his expertise in the World of Economics is unparalleled — He will do an outstanding job. Congratulations Stephen!
