In keeping with the blockchain infrastructure firm Paxos, the agency has frozen 11,184.38 pax gold (PAXG) tokens held on the platform The regulated token issuer famous that it was directed to freeze the PAXG tokens after “course from U.S. federal regulation enforcement.”
Paxos Complies With U.S. Regulation Enforcement Request to Freeze 11,184 PAXG
Paxos up to date the general public on Nov. 12, 2022, and detailed that the corporate has frozen 11,184.38 pax gold (PAXG) tokens held on the FTX platform. The replace was written by Paxos international normal counsel, Ben Grey. PAXG is a crypto token backed by one ounce of .999 high-quality gold at a 1:1 ratio and it’s the biggest tokenized gold coin by way of market cap.
“Earlier immediately, Paxos obtained course from U.S. federal regulation enforcement to freeze Paxos-issued property related to 4 ethereum addresses,” Grey’s weblog put up particulars. “In compliance with the request, Paxos froze 11,184.38 PAXG tokens valued at roughly $19 million. These tokens have been beforehand on the platform and had moved to unknown pockets addresses over the prior 24 hours.”
The PAXG tokens that have been frozen by Paxos could be seen within the following 4 addresses:

The Paxos freeze follows Tether freezing 46 million USDT from FTX on the request of regulation enforcement officers as properly. A Tether consultant advised Information that the corporate “can affirm on the background {that a} freeze occurred.” Following the PAXG freeze replace and sharing the addresses, Grey additionally mentioned the corporate was working with the U.S. authorities and related regulators.

“This can be a quickly evolving matter,” the Paxos govt detailed. “We intend to supply updates as acceptable as particulars come to gentle. As all the time, Paxos will proceed to work carefully with regulation enforcement and regulators. Thanks go to federal regulation enforcement for his or her extraordinary responsiveness to this matter.”

Tags on this story

Ben Grey, Freeze tokens, Frozen tokens, ftx, FTX accounts, FTX Trade, Regulation Enforcement, pax gold, PAXG, Paxos, Paxos govt, Paxos executives, Paxos international normal counsel, Paxos Gold Cash, Paxos Gold Tokens, Tether, USDT
What do you concentrate on Paxos freezing greater than 11,000 PAXG from FTX’s 4 accounts? Tell us your ideas about this topic within the feedback part beneath.

Jamie Redman

Jamie Redman is the Information Lead at Information and a monetary tech journalist dwelling in Florida. Redman has been an lively member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized functions. Since September 2015, Redman has written greater than 6,000 articles for Information in regards to the disruptive protocols rising immediately.

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