Paxos News

Fat finger errors happen all the time, especially in traditional banking. The difference is that blockchain makes it transparent and immediately identifiable.

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.

Crypto users were left scrambling on Wednesday after Paxos minted 300 trillion of PayPal's PYUSD stablecoin, then sent it all to a burn address.

As stablecoins pass $300 billion market cap, Paxos Labs’ Bhau Kotecha says AI agents could turn market fragmentation into an advantage by routing liquidity to top issuers.

Paxos’ USDH plan brings PayPal/Venmo links, a $20-million fund and yield sharing. Could it turn Hyperliquid into DeFi’s next liquidity hub?

Hyperliquid’s first stablecoin vote has drawn bids from Paxos, Frax, Sky, Agora and newcomer Native Markets, with billions in trading volume and stablecoin flows on the line.

OpenEden and BitGo round out the list of eight bidders on the final day of submission in the race to issue Hyperliquid’s stablecoin. Voting begins today and will end on Sunday.

Paxos updated its bid to issue Hyperliquid’s USDH stablecoin, unveiling a PayPal-backed product with payment integration and a revenue model tied to the DEX’s growth.

Ethena joins Paxos, Frax, Agora, Native Markets and Sky in the race to issue Hyperliquid’s USDH, a mandate tied to $5 billion in liquidity.

MoonPay, Agora, Paxos, Frax and others are challenging Stripe’s Bridge proposal to issue Hyperliquid’s USDH stablecoin, pushing for community rewards.

Paxos has proposed a fully compliant USDH stablecoin for the Hyperliquid ecosystem, with most of its yield funneled into HYPE token buybacks.

Paxos has reapplied for a US national trust bank charter after its 2021 conditional approval lapsed, seeking OCC oversight as new stablecoin rules emerge.

The New York Department of Financial Services (NYDFS) said the fine was due to a lack of anti-money laundering oversight.

JPMorgan, Citigroup and Bank of America are all in the early stages of stablecoin development.

Launched in November 2024, the USDG stablecoin has a total circulating supply of around $356 million.