PAX Gold (PAXG)
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 62 → 79. Problems weighed by who is responsible: concerns that are not fraud −12.4, problems around the subject, caused by others −1.5; legitimacy credit long-running +10, audits +8; fact-check adjustments (−10) now shown as page reliability, not in the score. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -12.4 |
| Problems around it, caused by others | -1.5 |
| Long-running | +10 |
| Audited | +8 |
| Sum | 69 |
Score: 79/100 (kept between 0 and 100)
How scoring works →Summary
PAX Gold (PAXG) is a regulated, gold-backed ERC-20 token issued by Paxos Trust Company, launched in September 2019, where each token represents one fine troy ounce of physical gold stored in Brink's vaults in London. Paxos holds a national trust charter from the U.S. Office of the Comptroller of the Currency (OCC) as of December 2025, and publishes monthly third-party attestation reports via KPMG. The issuing entity, Paxos Trust Company, entered a $48.5 million settlement with the New York Department of Financial Services (NYDFS) in August 2025 over anti-money laundering failures tied to its prior BUSD stablecoin business, which does not directly implicate PAXG but reflects compliance weaknesses at the parent firm.
Connected Entities
10 entities · 60 linked investigations- Ethereum→mentioned with→Coinbase(60%)
- Ethereum→mentioned with→Bitcoin(60%)
- Binance→mentioned with→Tether(60%)
- PAX Gold (PAXG)→mentioned with→Tether Gold (XAUT)(75%)
- Binance→mentioned with→Ethereum(65%)
- Tether Gold (XAUT)→mentioned with→Tether(70%)
- PAX Gold (PAXG)→mentioned with→Ethereum(80%)
- PAX Gold (PAXG)→mentioned with→Kraken(60%)
- PAX Gold (PAXG)→mentioned with→Binance(70%)
- Tether Gold (XAUT)→mentioned with→Ethereum(70%)
- + 16 more
Connected Through
9 shared actors · 602 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □Ethereumorganization
- ♦Bitcointoken
- □Binanceorganization
- ♦Coinbasetoken
Timeline(13 events)
2012
Charles Cascarilla and Rich Teo co-found itBit in Singapore, a regulated Bitcoin exchange focused on institutional clients.
Paxos Blog – How Paxos Came to Be2015
Paxos (operating as itBit) receives a NYDFS limited purpose trust charter, among the first granted to a virtual currency firm in New York.
Paxos – WikipediaSeptember 2016
itBit is rebranded as Paxos Trust Company.
businessmodelcanvastemplate.com – Brief History of Paxos2018
Paxos launches Paxos Standard (PAX, later USDP), one of the first NYDFS-approved dollar-backed stablecoins.
Paxos Blog – How Paxos Came to Be5 September 2019
Paxos launches PAX Gold (PAXG) on the Ethereum mainnet as the first NYDFS-approved digital gold token, backed one-to-one by physical gold in Brink's vaults in London.
Paxos Newsroom – Paxos Launches PAX Gold3 February 2023
Paxos discloses receiving a Wells notice from the SEC, in which staff indicated they may recommend an enforcement action alleging BUSD is an unregistered security. Paxos categorically disagrees.
Paxos Issues Statement – Paxos Newsroom13 February 2023
NYDFS orders Paxos to cease minting BUSD. Paxos terminates its relationship with Binance for the branded stablecoin effective February 21, 2023.
Crypto firm Paxos to face SEC charges, ordered to stop minting Binance stablecoin – CNBC9 July 2024
The SEC's acting chief of the Crypto Assets and Cyber Unit confirms in a letter that the Commission will not recommend enforcement action against Paxos over BUSD. The SEC investigation is closed with no charges filed.
SEC Drops Enforcement Action Against Paxos in the BUSD Case – Banking Dive28 February 2025
Paxos transitions its PAXG attestation provider from WithumSmith+Brown, PC to KPMG LLP, effective with reports issued on or after this date, with NYDFS approval.
PAX Gold Transparency Reports – Paxos7 August 2025
Paxos Trust Company enters into a $48.5 million Consent Order with NYDFS resolving AML compliance failures tied to the BUSD stablecoin business: $26.5 million penalty plus $22 million in remediation investment. NYDFS finds Paxos failed to independently verify Binance's compliance controls and allowed approximately $1.6 billion in suspicious transactions to go undetected.
Consent Order – NYDFS v. Paxos Trust Company11 August 2025
Paxos files an application with the OCC to convert its NYDFS trust charter to a national trust charter.
Paxos to Pursue National Trust Charter with the OCC – Paxos Newsroom12 December 2025
OCC approves Paxos's conversion to a national trust charter. Paxos becomes Paxos Trust Company, National Association, under OCC Charter Number 25379, subject to federal OCC supervision.
OCC Approves Paxos Application to Convert to OCC Trust – Paxos Newsroom29 January 2026
PAXG reaches its all-time high price of approximately $5,619, tracking the concurrent rally in gold spot prices.
PAX Gold Price Today – CoinMarketCapDecision Log
- slot 455369939 · hash 3roKaL94kYkPvnyGwGiciJTW9WXGvaLgTsrMDjWLP3fd
- slot 443524210 · hash 7rD4kXH2ZT6DzNXmzhZvyHwAgJf968HYYdPP8evjkM8F
- slot 443524207 · hash BRZTciXwy3UG2p3fhaiwPa2crw6MU9Uv6GiyhtYQxrAD
- slot 443501347 · hash Hku8mHyhJ37kx2XWWbQrVvDUaddSXns1s7FN3ZN9TnEF
This investigation is cryptographically anchored to the Solana blockchain (4 decisions). 21 of 22 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 7/22/2026, 12:14:35 PM
last updated: 10/10/2026, 6:49:54 PM
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