Paxos’s dreams of a national banking charter died last week of extreme old age. The stablecoin issuer's application for a new bank charter, originally filed in December 2020, expired on March 31, records from the Office of the Comptroller of the Currency show. 

Paxos, the stablecoin issuer that's been on the front lines of the U.S. crack down on crypto, is looking for help managing its reserves and is seeking a new "Head of Portfolio Management," according to a job listing on LinkedIn posted five days ago.

Nasdaq is betting its established reputation will help it secure a strong place in the world of crypto.

Blockchain and tokenization infrastructure platform Paxos announced that it has completed redemption of over $7.9B Binance USD (BUSD) in 32 days. 

Paxos will continue to support BUSD in circulation for at least one year.

All BUSD remains fully-backed 1:1 with USD cash & cash equivalents held in custody with the company’s NYDFS Trust, and Paxos will continue to support BUSD in circulation for at least one year.

Leading crypto exchange Coinbase disclosed it lost around $240 million in Signature Bank shut-down on Mar. 12.

The closure of Silicon Valley Bank and Signature Bank won’t affect Circle’s USDC operations.

Following the Signature bank crash, many top firms such as Paxos, Coinbase, and Celsius have revealed they had some funds tied up in them. 

Silicon Valley Bank was closed by the California Department of Financial Protection and Innovation.