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

Austin Campbell, former head of Paxos portfolio management and partner at Zero Knowledge Consulting, published an article on the X platform reviewing the list of 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 the SEC’s subpoena 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 securities. The incident was such a turn-off for Howey that the judge would laugh about it in court.