DeFi Protocols Pull Back From Paxos

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Are Stablecoins Securities ?!

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Crypto Crackdown

Aave and Maker Pull Back From Paxos Stablecoins

Fallout From ‘Tricky Situation’ at Stablecoin Issuer Hits DeFi Protocols

By Samuel Haig

Top DeFi protocols Aave and MakerDAO are distancing themselves from Paxos-issued stablecoins after New York state’s Department of Financial Services ordered the firm to stop minting new BUSD tokens on Feb. 13.

Read the full story in The Defiant

Market Action

Klaytn and Filecoin Defy Feds’ Crackdown With Big Gains

‘China Narrative’ May Be Boosting Certain Tokens

By Owen Fernau

Not all crypto sectors have been dampened by the recent barrage of regulatory action coming out of the U.S. this week. KLAY, the native token of the Klaytn, a blockchain whose team is positioning as a metaverse-oriented platform, was up 23% on Friday and 62% in the last seven days, according to CoinGecko. That’s the largest gain of any of the largest 100 digital assets in that time span.

Read the full story in The Defiant

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