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Paxos, the issuer of the $16 billion Binance USD (BUSD) stablecoin, has burned more than $700 million of BUSD tokens since Monday. That was when Paxos announced it would stop issuing the cryptocurrency amid mounting regulatory pressure, blockchain data shows. Jesse Austin Campbell, Former Paxos Head of Portfolio Management and Columbia Business School Adjunct Professor, discusses his outlook for the stablecoin market and crypto regulation.

Feb 15, 2023

Stablecoin issuer Paxos will stop minting new Binance USD (BUSD) tokens at the direction of the New York Department of Financial Services (NYDFS), with the news coming just after a report of the threat of legal action from the U.S. Securities and Exchange Commission (SEC). Former Paxos Head of Portfolio Management and Columbia Business School Adjunct Professor Jesse Austin Campbell weighs in. "The lesson showing people here is that over the last few years, the greatest mistake is to be an on shore regulated company in the crypto space," Campbell said.

Feb 15, 2023

Meme tokens dogecoin (DOGE) and Floki Inu (FLOKI), named after Elon Musk's shiba inu, are soaring after Twitter CEO tweeted a photo of his dog in the CEO chair. eToro Investment Analyst Callie Cox weighs in on this speculation, warning investors to "be careful."

Feb 15, 2023

Bitcoin climbed back above $22,500 as crypto traders reacted to the Consumer Price Index (CPI) rising 0.5 percent in January. eToro Investment Analyst Callie Cox discusses how the inflation data could impact risk assets and Federal Reserve's upcoming interest rate decisions. Plus, insights on DOGE soaring after Twitter CEO Elon Musk posted a meme involving his dog Floki.

Feb 15, 2023

FTX company insiders, including Sam Bankman-Fried, former Alameda CEO Caroline Ellison, Bankman-Fried's father Joseph Bankman, Gary Wang and Nishad Singh have been served subpoenas by bankruptcy administrators. This comes as FTX's new leadership is trying to claw back $400 million from a little-known hedge fund investment, according to a report from the New York Times. CoinDesk regulatory reporter Amitoj Singh weighs in on the latest FTX developments.

Feb 15, 2023

Host Joel Flynn takes a deep dive into whether ordinary depositors can get their funds back from FTX. That story and other news shaping the cryptocurrency world in this episode of "The Daily Forkast."

Feb 15, 2023

CoinDesk Global Policy and Regulation Managing Editor Nikhilesh De discusses the key takeaways from Tuesday's Senate Banking Committee hearing called "Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets." 

Feb 15, 2023

CoinDesk data shows that the price of DOGE has risen over the past 24 hours after Twitter CEO Elon Musk posted a photo joking about his dog Floki as the new boss of Twitter. Musk replaced Parag Agrawal as CEO of Twitter when his acquisition deal for the social networking platform closed on Oct. 27. 

Feb 15, 2023

Bitcoin (BTC) remains above $22,000 despite increased regulatory pressure on the industry after Kraken's $30 million SEC settlement and Paxos receiving a Wells Notice. ProChain Capital President David D. Tawil shares insights into BTC's resilience amid macro headwinds and the impact of CPI data. Plus, takeaways from Tuesday's Senate Banking Committee hearing on safeguarding financial digital assets.

Feb 14, 2023

The Senate Banking Committee hosted a hearing Tuesday called "Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets." Crypto Council for Innovation Head of Government Affairs Brett Quick, who was at the hearing, discusses the key takeaways and the next steps in the push for "very badly needed federal regulatory clarity that the industry has been asking for."

Feb 14, 2023