BlockBeats: On February 14, Stablecoin issuer Paxos issued a statement stating that it had received a Wells Notice from the Securities and Exchange Commission (SEC), but strongly disagreed with the SEC staff because BUSDs are not securities under federal securities laws. To be clear, Paxos is not facing additional charges. In addition, Paxos has always put the safety of its customers' assets first. The BUSDs issued by Paxos are always backed by dollar-denominated reserves in a 1:1 ratio and are completely segregated and kept in the bankruptcy remote account. Paxos said it would engage with SEC staff on the issue and was prepared to litigate aggressively if necessary.

BlockBeats news: On February 13th, CZ, founder of Binance, responded to the recent SEC investigation into Stablecoin issuer Paxos by saying: "Binance will continue to support BUSDs for the foreseeable future. We do foresee users migrating to other stablecoins over time. We will also make product adjustments accordingly. "Paxos has informed us that the New York State Department of Financial Services has directed them to stop issuing new BusDs," a Binance spokesperson said ina statement Monday. BUSD is a stablecoin wholly owned and managed by Paxos. "As a result, the BUSD market value will only decline over time. Paxos will continue to service the product, manage redemptions, and will follow up with other information as needed. Paxos also guarantees that the funds are safe and fully covered by its bank's reserves."

BlockBeats reports that on February 13, Binance founder CZ responded again to the SEC lawsuit against BUSD issuer Paxos, saying, "Although called Binance USD, BUSD is not issued or redeemed by Binance."

"Paxos has informed us that the New York State Department of Financial Services has directed them to stop issuing new BusDs," a Binance spokesperson said ina statement on Monday, according to BlockBeats. BUSD is a stablecoin wholly owned and managed by Paxos. "As a result, the BUSD market value will only decline over time. Paxos will continue to service the product, manage redemptions, and will follow up with other information as needed. Paxos also guarantees that the funds are safe and fully covered by its bank's reserves." Previously, the New York Department of Financial Services ordered Paxos to stop issuing new BUSD tokens.

BlockBeats news: On February 13th, the official data of Curve showed that 79.70% of BUSD v2 pools were BUSD; DAI accounts for 7.8% of the other stablecoins; USDC accounted for 8.58%; USDT accounts for 3.90%. Previously, the New York State Department of Financial Services ordered Paxos to stop issuing BUSDs and will continue to allow redemptions.

BlockBeats news: On February 13th, CZ issued a message on its social platform, reminding users not to be affected by FUD, false news and attacks.

BlockBeats news: On February 13th, Ryan Selkis, founder of Messari, said on his social media platform that Paxos, a Stablecoin publisher, was facing a lawsuit from the SEC over BUSD. "My new goal in life is to end the political career of [Securities and Exchange Commission Chairman] Gary Gensler and make him the reason Joe Biden lost his re-election."

BlockBeats news, February 13, according to Binance trading platform information, BUSD to USDT ratio is now 1:0.988. BlockBeats previously reported that the New York Department of Financial Services ordered Paxos to stop issuing new BUSD tokens. Paxos will continue to manage redemptions for the product, according to a statement from Binance.