Almost Half of all PAX Stablecoin Transfers Linked to Ponzi: Report

Almost half of all PAX stablecoin transfers linked to ponzi: report

The latest report from crypto analytics firm Coin Metrics sheds some light on stablecoins and their links to illicit activity. No, it isn't about Tether.

In brief

  • Coin Metric’s latest state of the network shows stablecoin usage statistics across issuers and networks.

  • Roughly 40% of all PAX volume is tied to ponzi schemes, according to the report.

  • The report also demonstrates how stablecoins from the same issuer may be used differently across networks.

Stablecoins have come under fire over the past year from global regulators who warn that these cryptocurrencies could be misused for nefarious activities. Perhaps none more so than Tether, which is often pegged as the bad boy of Bitcoin’s gang of stablecoins. But compared to Paxos (PAX), Tether might come off looking squeaky clean. Read More...