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Record sog_ev_busd_2023_02_wind_down

Paxos announces BUSD minting halt and wind-down

Paxos announced that it would stop issuing new BUSD and end its relationship with Binance for the product. Redemptions continued during the wind-down period.

Date
2023-02-13
Category
Wind-down and termination
Subtype
Wind Down Announced
Status effect
Entered wind-down
Recovery
Not applicableNot yet recorded
Evidence
5 source records5 relations

Identity and classification

Overview

Date, taxonomy, impact, recovery, mechanism, confidence, and evidence remain separate.
Date2023-02-13
Public event categoryWind-down and termination
Canonical event subtypeWind Down Announced
Structured detail kindMigration
Stablecoin subjectsBinance USD
Organization subjectsPaxos
ImpactHigh
Effect on stablecoin lifecycleEntered wind-down
Canonical status-effect valueDiscontinued
Recovery or reversalNot applicable
Recovery dateNot Applicable
Cause or mechanismIssuer wind-down and minting halt context.
Structured detail coverageStructured fields available below
Record confidenceMedium
Date
2023-02-13
Public category
Wind-down and termination
Canonical subtype
Wind Down Announced
Structured detail kind
Migration
Impact
High
Status effect
Entered wind-down
Recovery
Not applicable
Recovery date
Not yet recorded
Cause or mechanism
Issuer wind-down and minting halt context.
Record confidence
Medium

Affected records

Subjects

Stablecoin and organization subjects remain separate record groups.
Stablecoin subject

Binance USD

Open the stablecoin dossier for current state, organizations, deployments, evidence, and unknowns.

Organization subject

Paxos

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Typed record

Structured detail

Event-type-specific facts remain visible with explicit value states.
Structured event detail
Migration detail — SummaryIssuer wind-down and minting halt context.
Migration detail — Summary
Issuer wind-down and minting halt context.

Provenance

Evidence

Source identity, publisher, publication date, reliability, archive, and relation count remain separate.
5 source identities · 7 evidence relations
SourcePublisherSource categoryProvenancePrimary or secondarySupported claimsArchiveReliability
Paxos to end relationship with Binance for BUSD
Published 2023-02-13		PaxosOfficial statement or announcement
Canonical: Issuer Statement		Subject-controlled sourcePrimary sourceDiscontinued StatusNo archive recordedHigh
Paxos BUSD issuer context
Published Not yet recorded		PaxosOfficial statement or announcement
Canonical: Issuer Statement		Subject-controlled sourcePrimary sourceEntity Redemption Wind DownNo archive recordedMedium
Binance BUSD support phase-out notice
Published 2023-08-31		BinanceOfficial statement or announcement
Canonical: Exchange Notice		Subject-controlled sourcePrimary sourceExchange Support Phaseout, Exchange adoptionNo archive recordedMedium
SEC ends Paxos BUSD investigation, report
Published 2024-07-11		ReutersIndependent news or analysis
Canonical: News Analysis		Independent third-party sourceSecondary sourceRegulatory FollowupNo archive recordedMedium
Paxos Will Halt Minting New BUSD Tokens
Published 2023-02-13		PaxosOfficial statement or announcement
Canonical: Issuer Statement		Subject-controlled sourcePrimary sourceissuer role, minting halt, reserve segregation, bankruptcy remoteness, and redemption wind-downNo archive recordedHigh

Maintenance

Corrections and further reading

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