today in stablecoin news we look at the case of #Paxos, the "responsible" #stablecoin issuer behind the largest stablecoin ever to be shut down by the government for money laundering (#BUSD aka "Binance USD").

- Paxos: "We're insured"
- Customers: "Wow! So who sold you the insurance? I heard it's hard to get insurance as a crypto company."
- Paxos: "A little company called Paxos"

p.s. one of the ex-Paxos guys behind BUSD, Austin Campbell, is considered a major thought leader for the industry and was a huge advocate for (and probably an architect of) the #GeniusAct

#AustinCampbell #stablecoins #crypto #finance #cryptocurrency