Former head of Paxos portfolio management: If PYUSD is a security, then so are Starbucks gift cards and airline points

Odaily reported that Austin Campbell, former head of Paxos portfolio management and partner of Zero Knowledge Consulting, published an article on the X platform reviewing the projects prosecuted by the SEC, but there were no FTX, Celsius, Terraform Labs, Hex, or BlockFi. Austin Campbell said: Basically, if you are a genuine scam or criminal activity, you are 100% safe from the SEC, and in fact, they will go out of their way to help you in an attempt to undermine your legitimate competitors. Regarding Paypal’s receipt of a subpoena from the SEC regarding the stable currency PYUSD, Austin Campbell commented that if PYUSD is a security, then Starbucks gift cards, prepaid debit cards and airline points are also a security. The incident was such a turn-off for Howey that the judge would laugh about it in court.