Investment advisors at BlackRock will invest up to $1 billion into marketplace programs run by a California-based fintech firm. The San Francisco-based LendingClub Corporation, which offers a suite of deposit and loan products, bought Radius Bank in 2020 for $185 million in cash and stock, becoming one of the first fintechs to acquire a national banking charter. Clarke Roberts , LendingClub’s senior vice president, says the new deal with BlackRock is an “exciting step forward” for the financial services firm. “It also validates the strength of our underwriting, the effectiveness of our marketplace programs, and the trust we’ve earned as a counterparty of choice in this asset class. We want to thank BlackRock for their collaboration and execution, and we look forward to growing this partnership over time.” LendingClub has sold nearly $6 billion in loans via its structured certificates programs since rolling out the offerings in 2023, according to a press release from the firm. LendingClub’s stock, LC, is down more than 1% in the past 24 hours but up more than 28% in the past month. BlackRock, the world’s largest asset manager, saw its stock tick up by nearly 1% on Wednesday. The stock, BLK, is also up more than 4% in the past 30 days. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post BlackRock Reveals $1,000,000,000 Investment in California-Based Financial Services Firm’s Marketplace Programs appeared first on The Daily Hodl .
BitcoinWorld Paxos Settlement: A Staggering $48.5 Million Fine Signals Tougher Crypto Regulation The crypto world is buzzing with news of a significant development: a staggering Paxos settlement . Paxos Trust Company recently agreed to pay $48.5 million to the New York Department of Financial Services (NYDFS). This substantial fine addresses critical anti-money laundering (AML) and due diligence failures. These issues were specifically linked to its Binance partnership , highlighting the increasing scrutiny from regulators. This event sends a clear message about the growing importance of robust AML compliance within the digital asset space and signals a tightening grip on crypto regulation . Indeed, it underscores the need for every entity in this innovative sector to prioritize regulatory adherence. Why Did Paxos Face This Staggering Settlement? Paxos, a regulated blockchain infrastructure platform and issuer of stablecoins, found itself under the microscope for shortcomings in its compliance programs. The NYDFS investigation revealed that the company did not adequately monitor its transactions or conduct proper due diligence on its customers. This was particularly true concerning its collaboration with Binance, one of the world’s largest cryptocurrency exchanges. The lapses identified included: Insufficient Customer Due Diligence: Paxos reportedly failed to properly vet customers onboarded through its extensive Binance partnership . Inadequate Transaction Monitoring: The systems in place did not effectively detect or flag suspicious activities, which is a core requirement of modern crypto regulation . Failure to Timely Report Suspicious Activity: Delays in reporting potential illicit transactions further exacerbated the issue. This series of failures ultimately led to the substantial financial penalty. It underscores the critical need for strict financial oversight , even for established players in the crypto industry. The Crucial Role of AML Compliance in Crypto Anti-Money Laundering (AML) regulations are designed to prevent illicit activities, such as fraud, terrorist financing, and market manipulation. For cryptocurrency firms, adhering to these rules is not just a legal obligation; it is fundamental for maintaining trust and legitimacy within the global financial system. The Paxos case serves as a potent reminder that firms handling digital assets must implement comprehensive AML frameworks. This includes rigorous “Know Your Customer” (KYC) procedures, which verify user identities, and continuous transaction monitoring to spot unusual patterns. Neglecting these aspects can lead to severe penalties, as seen with the Paxos settlement , and significant reputational damage. Moreover, robust AML compliance practices protect users by ensuring a safer ecosystem, aligning with the broader goals of effective crypto regulation . How Does This Impact Broader Crypto Regulation? This Paxos settlement is more than just a single enforcement action; it signals a broader, intensifying trend in the global regulatory landscape. Authorities globally are intensifying their focus on digital asset companies, pushing for greater transparency and accountability. The NYDFS, a leading financial regulator, is setting a clear precedent here. Their actions indicate a firm commitment to ensuring that crypto businesses operate under the same high standards as traditional financial institutions. This move is a clear indicator of evolving crypto regulation and the growing demand for enhanced financial oversight across the entire digital asset ecosystem. It suggests that regulators are moving beyond initial warnings to concrete enforcement, shaping the future of digital finance. Actionable Insights for Strengthening Financial Oversight What can other crypto companies, especially those with complex Binance partnerships or similar arrangements, learn from the Paxos experience? Proactive measures are key to avoiding similar fates. Prioritize Robust AML Frameworks: Implement and regularly update comprehensive AML policies and procedures. These should be dynamic and adapt to new risks, ensuring strong AML compliance . Enhance Due Diligence: Go beyond basic checks. Thoroughly understand your customers and their activities, especially in high-risk partnerships. This includes source of funds and wealth checks, critical for effective financial oversight . Invest in Technology: Utilize advanced, AI-driven tools for transaction monitoring, anomaly detection, and sanctions screening. Technology can significantly bolster AML compliance efforts. Conduct Regular Independent Audits: Independent reviews help identify weaknesses in compliance programs before regulators do. These audits provide an objective assessment of your adherence to crypto regulation . Foster a Culture of Compliance: Ensure all employees, from top management to entry-level staff, understand and commit to regulatory requirements. Regular training is essential for upholding strong financial oversight . Maintain Open Communication with Regulators: Proactive engagement can help clarify expectations and address potential issues before they escalate. The $48.5 million Paxos settlement with the NYDFS is a landmark event. It powerfully reinforces the imperative for strong AML compliance and vigilant financial oversight across the cryptocurrency sector. As the industry matures, regulators will continue to demand higher standards, ensuring market integrity and investor protection. This case serves as a crucial wake-up call, urging all crypto businesses to proactively strengthen their compliance measures and adapt to the evolving landscape of crypto regulation . The message is clear: compliance is not optional; it is foundational for sustainable growth in the digital economy. Frequently Asked Questions (FAQs) 1. What is the Paxos settlement about? The Paxos settlement involves Paxos Trust Company paying $48.5 million to the New York Department of Financial Services (NYDFS) for anti-money laundering (AML) and due diligence failures linked to its partnership with Binance. 2. What constitutes AML failures in the crypto industry? AML failures typically include inadequate customer due diligence, insufficient transaction monitoring, and delays in reporting suspicious activities, all of which violate regulations designed to prevent illicit financial flows. 3. How does this settlement impact the Binance partnership specifically? The settlement highlights that Paxos’s AML and due diligence shortcomings were specifically tied to its Binance partnership , indicating a need for more robust controls when collaborating with large, global exchanges. 4. What are the broader implications for crypto regulation? This case signals a tightening of crypto regulation globally, emphasizing that regulators expect digital asset companies to adhere to the same high standards of compliance and financial oversight as traditional financial institutions. 5. What can crypto companies do to improve their financial oversight? Crypto companies can improve financial oversight by implementing robust AML frameworks, enhancing due diligence, investing in compliance technology, conducting regular independent audits, and fostering a strong culture of compliance among all employees. If you found this article insightful, please consider sharing it with your network! Your support helps us continue to provide valuable updates on the dynamic world of cryptocurrency and its regulation. To learn more about the latest crypto regulation trends, explore our article on key developments shaping financial oversight in the digital asset space. This post Paxos Settlement: A Staggering $48.5 Million Fine Signals Tougher Crypto Regulation first appeared on BitcoinWorld and is written by Editorial Team
On Thursday, as bitcoin bounced back from recent lows, the network’s computing firepower hit a record-breaking 970 exahash per second (EH/s). From Exahash to Zettahash: Bitcoin’s March Toward 1,000 EH/s Gets Closer Bitcoin’s processing strength topped its previous high of 946 EH/s, notching a new milestone at 970 EH/s that day. Right now, the hashrate
North Carolina Representative Tim Moore has filed a series of trades totaling up to $380,000 in triple-leveraged ETF positions most notably in Direxion’s Daily Small Cap Bull 3X ETF ( TNA ), according to public filings dated August 4, 2025. The trades span four consecutive purchase dates July 3, 9, 10, and 11 each falling into the $15,001–$50,000 range. If fully maxed, the filings picked up by Finbold’s political stock trading tracker represent $200,000 in TZA purchases alone. Receive Signals on US Congress Members' Stock Trades Stocks Stay up-to-date on the trading activity of US Congress members. The signal triggers based on updates from the House disclosure reports, notifying you of their latest stock transactions. Enable signal However, there’s a critical discrepancy: while the filings list the Bull 3X ETF, the ticker TZA actually refers to Direxion’s Bear 3X ETF, which profits when small-cap stocks decline. It’s unclear whether Moore intended to go long or short on small caps, or whether the disclosure contains a clerical error. Trades we expect from day traders, not lawmakers Moore’s filing is raising eyebrows, not just for its leveraged nature, but for its timing and aggressiveness. TZA is a high-risk product designed for short-term directional bets, often used by institutional traders to hedge volatility or capitalize on sharp market corrections. Adding to the confusion, Moore is also known to hold large positions in triple-leveraged bull ETFs, further complicating the intent behind these moves. It’s unusual, if not reckless, for a sitting Congressman to make this kind of bet. These are not buy-and-hold positions. It raises ethical questions about whether lawmakers are using their privileged access to economic insights to make short-term trades. Fed policy in focus Some market watchers speculated online that Moore’s trades may not necessarily be “bets against the economy,” but rather a hedge against monetary policy outcomes. One comment reads: “This isn’t a bet against the economy. It’s a bet that the Fed won’t cut rates. If lending dries up and rate cuts are delayed, small caps suffer.” Still, the lack of clarity, and the mislabeling of a bull fund as a bear fund (or vice versa) underscores the urgent need for stricter financial transparency rules for elected officials. The post US politician files $380K of leveraged bets against the US economy appeared first on Finbold .
Panama, August 2025 — HTX, a global leading cryptocurrency exchange, is proud to announce its partnership with World Liberty Financial (WLFI), becoming one of the esteemed launch partners for the USD1 Points Program — the world’s first global loyalty initiative built exclusively around the USD1 stablecoin. As one of the pioneering exchanges to collaborate with WLFI— and notably, the first exchange globally to list USD1 — HTX reaffirms its commitment to advancing a compliant, user-centric stablecoin ecosystem. This strategic alliance reflects HTX’s ongoing mission to promote innovation and sustainable adoption in the crypto space. “At HTX, we believe stablecoins are central to the future of digital finance,” said Justin Sun, Advisor to HTX. “We are proud to support the development of USD1 and this groundbreaking loyalty program. As stablecoins become foundational in global trading, payments, and the on-chain ecosystem, we remain committed to driving their growth through reliable trading infrastructure, trusted partnerships, and forward-thinking initiatives.” Introduction to WLFI and USD1 World Liberty Financial (WLFI), founded by U.S. President Donald J. Trump (Co-Founder Emeritus), Steve Witkoff (Co-Founder Emeritus), Eric Trump, Donald Trump Jr., Barron Trump, Zach Witkoff, Alex Witkoff, Chase Herro, and Zak Folkman, is a financial technology company at the forefront of merging digital asset innovation with American values and economic sovereignty. With deep-rooted connections to U.S. leadership, WLFI is driving a movement to establish stablecoins as a cornerstone of the global financial system. Its flagship asset, USD1, exemplifies regulatory-grade compliance and financial integrity. USD1 stands out as a stablecoin that is fully backed by short-term U.S. Treasuries, dollar deposits, and cash equivalents. This backing strategy is meticulously managed by WLFI to ensure that the value of USD1 remains tightly aligned with the U.S. dollar. With institutional-grade reserves and trusted custody partners, USD1 aims to become a foundational layer for digital payments, trading, and DeFi applications worldwide. USD1 Points Program Benefits The USD1 Points Program brings to crypto what loyalty programs have done for traditional industries like airlines, hotels, and credit cards. For the first time, stablecoin users can earn rewards for helping build a more sovereign and decentralized financial future. Through this program, HTX will enable users to earn points by trading USD1 pairs, holding USD1 in balances, and staking USD1 on the platform. Looking Ahead HTX is honored to join this movement alongside fellow industry leaders and support the growth of the USD1 stablecoin. This collaboration marks another milestone in HTX’s commitment to bringing secure, innovative, and user-focused products to the global crypto community. More information will be shared later on about the program initiatives. Together with WLFI and other partners, HTX is building a more inclusive and rewarding future — one point at a time. To learn more about HTX, please visit https://www.htx.com/ or HTX Square , and follow HTX on X , Telegram , and Discord . The post HTX Partners with World Liberty Financial to Support USD1 Points Program first appeared on HTX Square .
Ripple has confirmed the acquisition of Rail, a Toronto-based stablecoin payments platform, in a strategic move aimed at expanding its institutional-grade digital asset infrastructure. The deal, reportedly valued at $200 million, is expected to close in the fourth quarter of 2025, subject to standard regulatory approvals and closing conditions. According to Ripple CEO Brad Garlinghouse, the acquisition is intended to position the company as the primary provider of stablecoin payment infrastructure for financial institutions globally. No such thing as the August doldrums at @Ripple …very excited to share that we’re acquiring @RailFinancial ! Ripple + Rail together will be THE go-to provider of stablecoin payments infrastructure for global financial institutions around the world. https://t.co/JzUoHjulZB — Brad Garlinghouse (@bgarlinghouse) August 7, 2025 Scope of the Deal and Functional Objectives The acquisition enables Ripple to integrate Rail’s key technological offerings, which include virtual accounts, stablecoin on- and off-ramps, and automated back-office infrastructure. These services will streamline payment operations for clients, particularly institutional users operating across jurisdictions. Rail’s infrastructure already supports approximately 10 percent of global stablecoin transaction volume, making it one of the most active platforms in this segment. With this deal, Ripple is now positioned to deliver a unified crypto payment infrastructure capable of operating 24/7 across a wide range of assets. The integration will enable payments to be processed using Ripple’s stablecoin RLUSD and XRP, in addition to other digital currencies. XRP will continue to serve as a key bridge asset within Ripple’s payment framework, reinforcing its relevance within the company’s cross-border solutions. Strengthening Ripple’s Institutional Offerings The Rail acquisition comes on the heels of Ripple’s earlier purchase of Hidden Road , a multi-asset prime brokerage platform, for approximately $1.25 billion. These moves form part of Ripple’s broader institutional strategy, which includes pursuing a national banking license and deepening its involvement in stablecoin and crypto infrastructure development. By consolidating Rail’s platform capabilities, Ripple aims to provide financial institutions with end-to-end tools that eliminate the need to manage wallets or engage in direct on-chain operations. We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 The combined infrastructure from both companies will allow enterprise clients to access stablecoin payment flows through a single API, simplifying integration while maintaining regulatory compliance. Additionally, the back-office automation tools provided by Rail are expected to optimize liquidity management and improve the speed and transparency of fund settlement. Market Implications and Ecosystem Positioning This acquisition comes at a time when the digital asset industry is undergoing regulatory normalization, particularly in the United States. As legislative frameworks around stablecoins become more defined, the role of compliant infrastructure becomes increasingly critical for institutional players. Ripple’s continued investments indicate a strategic commitment to capturing market share within this segment by delivering solutions aligned with evolving regulatory standards. Crypto investor 24HRSCRYPTO commented on the development, highlighting the company’s aggressive strategy in building foundational stablecoin infrastructure ahead of broader market adoption. The comment reflects a growing sentiment among digital asset stakeholders that Ripple is establishing itself early in what could become a multi-trillion-dollar payment segment. Ripple’s acquisition of Rail reflects not only a technical consolidation but also a calculated expansion aimed at redefining how stablecoin infrastructure is deployed for global financial entities. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Ripple CEO Reacts As Ripple Seals Fresh Acquisition to Dominate Stablecoin Industry appeared first on Times Tabloid .
BitcoinWorld ProShares Leveraged ETF Unleashes Bold New Crypto Investing Opportunity Exciting news is rippling through the financial world, especially for those keen on crypto investing . Global asset manager ProShares has just launched a groundbreaking product: the Ultra CRCL ETF, known as CRCA. This isn’t just any fund; it’s a ProShares leveraged ETF designed to deliver double the daily performance of Circle’s stock. This move marks a significant moment, offering a dynamic new avenue for traders to engage with the rapidly evolving digital asset space. Unpacking the ProShares Leveraged ETF (CRCA): What You Need to Know The Ultra CRCL ETF (CRCA) made its debut shortly after Circle stock began trading on the NYSE, where its shares saw an impressive 134% surge. This ProShares leveraged ETF aims to provide 2x the daily return of Circle’s stock, making it particularly attractive for short-term traders. These traders are looking to amplify their exposure to Circle, especially given the surging adoption of the USDC stablecoin and the ongoing development of stablecoin regulations. Understanding the mechanism behind CRCA is crucial. It’s built for daily performance, meaning its returns reset each day. While this offers significant upside potential for nimble traders, it also carries inherent risks, particularly over longer holding periods due to compounding effects. Investors should consider their risk tolerance and trading strategy carefully. Why the Buzz Around Circle Stock and USDC Stablecoin? Circle, the issuer behind the USDC stablecoin , is a major player in the digital economy. USDC’s growth has been phenomenal, establishing itself as one of the most widely used and regulated stablecoins globally. Its increasing utility in decentralized finance (DeFi), cross-border payments, and Web3 applications underscores its importance. Consequently, exposure to Circle stock offers a direct way to participate in the growth of this vital infrastructure. The introduction of CRCA also reflects the broader institutional interest in providing structured products for crypto investing . As the regulatory landscape for digital assets matures, more traditional financial instruments are emerging, bridging the gap between conventional markets and the crypto world. This trend is crucial for expanding accessibility and legitimacy for digital assets. Navigating Leveraged Trading: Opportunities and Risks for Crypto Investors Leveraged trading allows investors to control a larger position with a smaller amount of capital, effectively magnifying potential gains. For short-term traders eyeing the volatility and growth potential of Circle stock , a 2x leveraged ETF like CRCA presents a compelling opportunity. Imagine capturing double the daily upside during a strong market rally – the appeal is clear. However, it’s vital to acknowledge the flip side. Just as gains are amplified, so too are losses. If Circle’s stock experiences a downturn, CRCA would reflect double that loss daily. This makes it a high-risk, high-reward instrument, best suited for experienced traders who understand the intricacies of leveraged products and market dynamics. Diligent risk management and a clear exit strategy are paramount when engaging in leveraged trading . What Does This Mean for the Future of Crypto Investing? The launch of the ProShares leveraged ETF signifies a growing trend towards more sophisticated and diverse investment vehicles in the crypto space. It indicates that traditional finance is finding innovative ways to offer exposure to digital assets, even those linked to specific companies rather than direct cryptocurrencies. This development could pave the way for more specialized ETFs and financial products, broadening the scope of crypto investing . Furthermore, it highlights the increasing confidence in regulated entities like Circle and their underlying assets. As the adoption of USDC stablecoin continues to accelerate globally, products like CRCA offer investors a unique, albeit high-risk, method to capitalize on this growth without directly holding the underlying shares or stablecoins themselves. Conclusion: A Bold Step for Crypto Market Exposure The Ultra CRCL ETF (CRCA) by ProShares is a significant addition to the investment landscape, offering a potent tool for those seeking amplified exposure to Circle stock . While it presents exciting opportunities for short-term traders due to its 2x daily leverage, it also demands a thorough understanding of its risks. As USDC stablecoin adoption grows and the regulatory environment evolves, such products will likely become more common, reshaping how we approach crypto investing . Always remember to conduct your own research and consider professional financial advice before engaging in leveraged products. Frequently Asked Questions (FAQs) What is a leveraged ETF like CRCA? A leveraged ETF aims to amplify the daily returns of an underlying asset. CRCA specifically seeks to deliver 2x the daily performance of Circle’s stock, meaning it aims to double the daily gains or losses of Circle shares. What are the main risks of investing in the ProShares leveraged ETF (CRCA)? The primary risk is amplified losses. If Circle’s stock declines, CRCA will lose twice that amount daily. Additionally, due to daily rebalancing, its performance over longer periods may deviate significantly from 2x the underlying asset’s performance. How does CRCA relate to the USDC stablecoin? CRCA tracks the stock of Circle, which is the issuer of the USDC stablecoin . Therefore, the ETF provides indirect exposure to the company behind one of the world’s leading stablecoins, allowing investors to potentially benefit from Circle’s growth driven by USDC adoption. Who is the target audience for this Circle stock ETF? CRCA is primarily designed for short-term traders who understand the complexities of leveraged products and the volatility of the underlying asset. It is not intended for long-term buy-and-hold investors. Can I lose more than my initial investment with a leveraged ETF? No, typically you cannot lose more than your initial investment in a leveraged ETF, as they are structured as exchange-traded funds. However, significant losses can occur rapidly, potentially wiping out your entire investment if the market moves against your position. If you found this article insightful, consider sharing it with your network! Help us spread awareness about the latest developments in crypto investing and the innovative financial products shaping the future of digital assets. To learn more about the latest crypto market trends, explore our article on key developments shaping crypto investing institutional adoption. This post ProShares Leveraged ETF Unleashes Bold New Crypto Investing Opportunity first appeared on BitcoinWorld and is written by Editorial Team
All US federal agencies gain access to OpenAI's AI platform for $1 each. Initiative aims to modernize government workflows and boost AI integration. Partnership supports the White House AI Action Plan for US leadership. Introduction: A New Era for Federal AI Integration The US government has made a landmark move to accelerate its digital transformation by securing access to OpenAI’s enterprise AI platform for every federal agency at only $1 per agency. This initiative, announced by the General Services Administration (GSA), provides a highly affordable avenue for federal bodies to integrate cutting-edge AI technology into their workflows. OpenAI, known for developing advanced AI models like ChatGPT, will enable agencies to improve efficiency, enhance data analysis, and streamline service delivery. This partnership supports the White House AI Action Plan, which aims to establish US leadership in artificial intelligence through practical government applications. How the Program Works and Its Impact The $1-per-agency cost removes traditional financial barriers and encourages widespread adoption of AI tools across diverse federal departments, including healthcare, national security, social services, and regulatory agencies. Key benefits anticipated from this rollout include: Automation of routine administrative tasks such as report generation Enhanced accuracy and speed in data processing and decision making Improved communication channels within and between agencies Workforce modernization by providing hands-on AI experience to employees David Smith, Acting Administrator of the GSA, emphasized that this partnership lays the foundation for a smarter, more responsive government that better serves the American public. Related Benefits and Considerations Workforce Preparedness: Enables federal employees to adapt and innovate using AI tools, preparing them for future technological demands. Operational Efficiency: Reduces manual workloads and accelerates workflows, helping agencies to handle complex tasks more effectively. Public Service Quality: Enhances the quality and responsiveness of public services through AI-driven solutions. Ethical and Security Focus: The GSA will monitor AI implementation to ensure transparency, data privacy, ethical use, and accountability. Closing Thoughts While this initiative places the US government at the forefront of AI adoption in the public sector, it also highlights ongoing conversations around AI ethics, privacy, and workforce impacts. By balancing innovation with responsible AI use, the government aims to enhance operational performance while safeguarding public trust. This program represents not only a technological leap forward but also a model other governments might emulate as AI becomes central to public sector modernization globally.
Ripple has acquired Rails to offer stablecoin payment services, with plans to integrate RLUSD, banking partners and compliance tools across global markets.
The New York financial regulator announced that Paxos Trust has reached a $48.5 million settlement with Binance over deficiencies in its anti-money laundering and customer due diligence processes. He will pay a fine of $26.5 million! The New York Department of Financial Services (NYDFS) announced that it has reached a settlement with Paxos Trust, a stablecoin issuer under investigation for allegedly violating anti-money laundering laws. Under this agreement, Paxos will pay a $26.5 million fine for failing to conduct adequate due diligence and for systemic deficiencies in its anti-money laundering program. In addition to the $26.5 million penalty, Paxos agreed to invest an additional $22 million to improve its compliance program and address deficiencies, according to a plan approved by the NYDFS. “After receiving regulatory approval to operate as a virtual asset company in 2015, Paxos jointly issued the Binance USD (BUSD) stablecoin with Binance. Paxos failed to do so, despite Binance being required by law to conduct regular due diligence and risk management. Approximately $1.6 billion (approximately 2.1 trillion won) worth of virtual asset transactions processed by Binance between 2017 and 2022 were associated with addresses involved in illicit activities,” NYDFS explained. NEW: DFS has secured a $48.5 Million settlement with Paxos Trust Company for anti-money laundering deficiencies and diligence failures. DFS remains committed to ensuring a fair and equitable financial system for all New Yorkers. See the full release: https://t.co/q8QuqRfP4i pic.twitter.com/P2wj6n17Yo — NYDFS (@NYDFS) August 7, 2025 *This is not investment advice. Continue Reading: Binance-Linked Cryptocurrency Case Ends! $48.5 Million to Be Paid!