The group filed comments on Treasury's proposed rule implementing the GENIUS Act, which governs who can issue and sell payment stablecoins.
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Paragon had already halted its PAPER market and settled open positions at $0.026296 after Papertrade ruled out token transfers for now.
“A return to last year’s indiscriminate capital raising looks unlikely,” said Bitfinex head of derivatives Jag Kooner.
The gaming-media company plans to become Superplanet, a Nasdaq-listed US Bitcoin treasury platform, with closing expected in Q4 2026.
Holders who earned PAPER through trading losses can stake it for USDC distributions, but still have no date when they can transfer or sell their tokens.
One of the world's largest investment managers, BlackRock has filed for another bitcoin fund, marking its third tied to the asset.
The former medical device maker has liquidated its Solana treasury and is offering to repurchase shares and warrants using its $223.8 million cash holdings.
