Stablecoin projects are paying rebates to traders, and it caused a big headache for Paxos
Partner offers
The Block may may earn a commission if you use our partner offers, at no extra cost to you.
Quick Take
- Stablecoins are offering rebates to drum up business
- Crypto sharks saw the arbitrage opportunity from one coin’s rebate
- And that was a headache for Paxos, the firm’s CEO said
When crypto exchange Gemini launched its much lauded stablecoin in 2018, it hoped the market would view its dollar-pegged coin as a regulated and more trustworthy alternative to Tether. Still, things got off to a slow start, with GUSD lagging behind its competitors. Gemini dollar currently has $90.3M in circulation while Paxos has $132.2M and USDC […]
accessprotocol.co
Subscribe for Premium Content
To unlock this and other Premium content, subscribe via Access Protocol. You can pay with SOL.
