NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

PAX Gold (PAXG) Leads Weekly Gainers Among Top Coins

Kent Tenix
Kent Tenix
1 year ago
3 mins read
PAXG

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

As the market suffers from FTX’s liquidity crisis, PAX Gold (PAXG), a commodity-backed crypto, continues to lead weekly gains. The 65th largest crypto by market cap was seen keeping a week-on-week gain of 5.26% and an intraday gain of 1.12%. Based on current market movement, PAX Gold is the week’s highest gainer. In fact, no other altcoin could boast of any gains, as the entire board was painted red.

Notably, PAX Gold has received many mentions on social media within the last few days. The catalyst is also tied to the FTX case, as the embattled exchange holds some amount of the token. Plus, PAXG’s parent company Paxos looks to expand its workforce in Singapore after bagging an operating license.

Related Reading

Bitcoin

Bitcoin Moves Differently From US Stock Market, Correlation Weakening?

1 year ago

PAXG, Others Part Of FTX’s Holdings

As FTX faces insolvency, recent data of its current Ethereum wallet holdings shows it holds part of its wealth in PAXG. FTX’s wallet holdings have dropped in the previous week due to liquidity concerns, illegitimate loans, client withdrawals, and a market downturn. Ethereum-based token data on Dune Analytics display the present condition of wallet holdings owned by the company. This data pertains to a list that was originally prepared by The Block.

This report claims that among FTX’s holdings is $61 million worth of Paxos gold (PAXG). It also held $69 million worth of USD coin (USDC) and $50 million worth of DAI, a decentralized stablecoin. Furthermore, there are more than $40 million worth of ether (ETH) and staked ether (stETH) in its wallet. 

According to 21Shares, a cryptocurrency investment service, the information only represents “the absolute minimum” of the wallet holdings at the moment. This simply means that the data only includes a small portion of the assets owned by the firms.

PAXGUSD
PAXG’s price is currently trading at $1756. | SOurce: PAXGUSD price chart from TradingView.com

Paxos Expands Team Despite Crypto Downturn

Paxos, the company behind PAXG, is expanding its workforce in Singapore by at least 130 workers. Bloomberg reported that the company received a license from Singapore’s central bank to market crypto goods and services.

In an interview, co-founder Rich Teo stated that the company was anticipating a three-year development drive. He mentioned that Singapore would serve as the center of growth for the region outside of the United States. The company has 20 employees in Singapore and 350 employees worldwide at the moment. Paxos stands as one of 20 companies licensed by Singapore’s MAS to conduct digital token operations under the Payment Services Act.

With this recruiting effort in Singapore, Paxos appears to be going against the current digital asset sector as a whole. Recall that many exchanges have been cutting back on staff over the past several months. Since the beginning of April, approximately 11,700 crypto-related jobs have been lost, based on news reports and official statements.

Related Reading

Bitcoin

Bitcoin Price Downtrend Far From Over, Why BTC Could Test $15K

1 year ago

PAXG Price Analysis

PAXG was trading at $1,760 at the time of this writing. Having found numerous support at $1,725, the bulls rallied to push its price to a weekly high of $1,780. 

For the rally to continue, the asset has to break through and close above $1,792. This point is shaping up to be a key resistance level.

Featured image from Pixabay and chart from TradingView.com
Tweet123Share196ShareSend
Kent Tenix
Kent Tenix

Kent Tenix

Kent is a talented freelance writer and journalist who creates insightful and thought-provoking content. With over 5 years of experience, she has honed her skills and established herself as an expert in her field. Kent is especially passionate about in-depth reporting and investigative journalism. She thoroughly researches every topic and story she covers to provide readers with comprehensive information and perceptive analysis. Whether she's reporting on crypto, business, technology, or finance, Kent prioritizes accuracy, nuance, and integrity. Her goal with every piece is to inform readers and inspire meaningful conversations and positive change. Kent enjoys traveling, photography, and spending time with her family when she's not tirelessly conducting interviews or poring over data. She hopes to continue using her writing to enlighten and engage audiences on issues that matter.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Chainlink price

Chainlink Price Continues To Struggle Below $15 — Levels To Watch

The Chainlink price has impressed at times this year, but it has struggled to mount a sustained bullish run over...

Opeyemi Sule 9 hours ago
Solana Tests Rising Channel Support – Breakdown Could Send Price To $128.50 Level

Solana Tests Rising Channel Support – Breakdown Could Send Price To $128.50 Level

Solana is facing a critical test this week, consolidating in a tight range between $145 and $160 since Monday. The...

Sebastian Villafuerte 11 hours ago

比特幣ETF年化收益超越標普500 7月最值得買入預售項目錯過升10倍肯定後悔 

在2025年夏季的市場震盪中,一則來自貝萊德(BlackRock)的數據悄然顛覆了資本市場長期以來的認知。根據彭博社報導,貝萊德旗下的實物比特幣ETF,iShares Bitcoin Trust(IB...

Kelvin Lee 11 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ethereum

Ethereum Price Stuck At $2,500: Analyst Says Don’t Trade Until This Happens

Scott Matherson 5 hours ago

What FunToken movement towards a 500% spike says about the scarcity market psychology

News BTC 6 hours ago
Bitcoin

Bitcoin Investor Sentiment Back To ‘Very Bullish’ — What This Means

Opeyemi Sule 6 hours ago

Premium Sponsors

Press Releases

  • XRP Cryptocurrency × Dogecoin Mining: HASHJ launches...

    1 hour ago
  • Koja kriptovaluta ima veći potencijal za stvaranje milijunaša XRP ili Shiba Inu

    Koja kriptovaluta ima veći potencijal za stvaranje...

    5 hours ago
  • 3 altcoina koje vrijedi pratiti u prvom tjednu srpnja 2025

    6 hours ago
  • XRP Bulls Are Soaring — FINDMINING Rides the Wave to...

    12 hours ago
  • $AIN Expands to 7 DEXs as AI Network Activates Omnichain AI...

    12 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.