As USDT plummets, Paxos says it has issued about $50 million worth of PAX-web3资讯-ODAILY

As USDT plummets, Paxos says it has issued about $50 million worth of PAX

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6 years ago

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The plunge of USDT may be the trigger for the next round of competition for the stablecoin market

As USDT plummets, Paxos says it has issued about million worth of PAX

official informationofficial informationSince its launch, Paxos has issued more than $36 million in PAX in exchange for U.S. dollar deposits and is now supported by most of the large crypto wallets, according to Zhong.

Subsequently, Dorothy Jean Chang, Vice President of Paxos,day on twitter2 hours ago, we announced that in the month since inception, Paxos issued over $36 million in PAX, and now... we have issued over $50 million in PAX.

As USDT plummets, Paxos says it has issued about million worth of PAX

According to its Twitter content, it hints that in the past 2 hours, PAX worth 14 million US dollars has been issued.

If what Dorothy Jean Chang said is true, then the reason why PAX issued 14 million US dollars of PAX in a short period of time is not unrelated to yesterdays sharp drop in USDT.

reportedreportedAt that time, the price of USDT fell below $0.952, which caused panic selling in the market, and mainstream currencies such as Bitcoin rose accordingly.

announcementannouncementSaid that TUSD, USDC, GUSD, PAX will be listed, and the corresponding trading pairs will be launched.

As USDT plummets, Paxos says it has issued about million worth of PAX

roll outroll outProvided USDC and GUSD settlement services.

TwitterTwitterA statement on USDT’s decline: We reiterate that despite temporary price fluctuations in the market, all USDT in circulation is fully backed by USD and assets always exceed liabilities.

issuedissued。

The plunge of USDT may be the trigger for the next round of competition for the stablecoin market, and the competition among stablecoins may have just officially kicked off.

This article references multiple sources of information：https://www.coindesk.com/paxos-claims-50-million-in-price-stable-cryptocurrency-issued-in-first-weeks/，If reprinted, please indicate the source.

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