PayPal Facing SEC Subpoena Linked to Stablecoin Could Be a 'Power Grab,' Former Paxos Exec Says

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PayPal Facing SEC Subpoena Linked to Stablecoin Could Be a 'Power Grab,' Former Paxos Exec Says
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PayPal received a subpoena from the SEC recently, requesting documentation about its stablecoin PYUSD.

The state of crypto is presented by Tron connecting the world to the power of Cryptocurrency. All right. Joining us now with more reaction on Sam Beman Fried is Columbia Business School, adjunct professor and former Pax, head of portfolio management, Austin Campbell. Welcome back to the show, Austin. Thank you very much. Good morning, Jen. Good morning. All right, we were just talking about Sam Breed with Nick.

If they had simply wanted to go after people within the NY DFS framework, I'll remind everybody that USDP, which is the original Paxos Dollar and G USD, which is Gemini Dollar launched in 2018. And paypal is the most recent, most notable in terms of the names in the space and probably the biggest brand name. This is part of the reason for my previous comments is it feels like they are targeting based on headline value rather than economic substance.

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