The stablecoin space was rocked this week by news that the SEC plans to sue Paxos over its Binance-branded stablecoin product BUSD. Money has poured out of the stricken BUSD and into its rival stablecoin Tether, which has seen its market cap grow by $1 billion. But Paxos isn’t going down without a fight, saying that it’s prepared to “vigorously” contest the SEC’s lawsuit.
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