US Law Enforcement Directs Paxos to Freeze More Than 11,000 PAXG Tokenized Go...
According to the blockchain infrastructure company Paxos, the firm has frozen 11,184.38 pax gold (PAXG) tokens held on the platform FTX.com. The regulated token issuer noted that it was directed to freeze the PAXG tokens after “direction from U.S. federal law enforcement.” Paxos Complies With U.S. Law Enforcement Request to Freeze 11,184 PAXG Paxos updated the public on Nov. 12, 2022, and detailed that the company has frozen 11,184.38 pax gold (PAXG) tokens held on the FTX platform. The update was written by Paxos global general counsel, Ben Gray. PAXG is a crypto token....
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While gold tapped an all-time high (ATH) this year surpassing $2K per ounce, the top tokenized gold crypto assets by market valuation continue to see significant demand, premiums, and market capitalization growth. For instance, Paxos Trust Company’s PAXG market cap jumped more than 43% in 31 days from $424 million to today’s $611 million. PAXG and XAUT Market Caps Swell, Both Gold Tokens See Premiums Over Gold’s Spot Market Value On March 8, 2022, the price of one troy ounce of .999 fine gold reached an ATH at $2,069 per unit. A troy ounce is equivalent to 480 grains....
PAX Gold is a cryptocurrency and gold hybrid that bridges the gap between the two investment options. It offers the security and stability of cryptocurrencies. In recent years, nonfungible tokens (NFTs), cryptocurrencies and other modern investment options have become trendy. However, physical commodities such as gold are still in high demand. In 2021, the global market capitalization for cryptocurrency surpassed $2 trillion. Now, investors must ask themselves: which option should I choose — crypto or gold?Gold is a commodity that dates back thousands of years as a store of value and as a....
Paxos CEO Charles Cascarilla sees a bright future for tokenized assets — possibly through PayPal In a panel last week for the London Bullion Market Association, Paxos founder and CEO Charles Cascarilla discussed the growth of Paxos’ gold-backed ERC-20 token, PAXG, and the future of asset tokenization more generally — a future that could well involve his company’s recently-announced integration with financial giant PayPal. Speaking alongside Fidelity Labs director of product management Raghav Chawla and the LBMA’s Sakhila Mirza, Cascarilla told viewers that an asset-backed gold token was a....
As the market suffers from FTX’s liquidity crisis, PAX Gold (PAXG), a commodity-backed crypto, continues to lead weekly gains. The 65th largest crypto by market cap was seen keeping a week-on-week gain of 5.26% and an intraday gain of 1.12%. Based on current market movement, PAX Gold is the week’s highest gainer. In fact, no other altcoin could boast of any gains, as the entire board was painted red. Notably, PAX Gold has received many mentions on social media within the last few days. The catalyst is also tied to the FTX case, as the embattled exchange holds some amount of the....
15 months ago the price of one ounce of fine gold was $1,790 per ounce and since then, it has increased in value 3.51% to today’s $1,853 per ounce exchange rate. While gold has risen in value, the top two tokenized gold coins have grown significantly since then. Pax gold (PAXG), for instance, has seen its market capitalization grow 407% since February 26, 2021, and Tether’s XAUT market valuation swelled by 248% since that day. Presently, PAXG’s and XAUT’s market capitalizations combined equate to just over $1 billion in value.
Pax Gold
Today,....