Crypto Chaos: Paxos Gets Slapped with $48.5M Fine – Regulators Are Not Playing 😅💸
Apparently, our dear regulators decided enough was enough after watching Paxos and Binance’s buddy comedy from 2017 to 2022, during which about $1.6 billion in suspicious transactions wiggled through the cracks like gremlins at a kids’ party. The regulators didn’t just hand out a fine-they mandated a $22 million investment to fix the mess, because apparently, money grows on compliance trees? 🌳💵