Tag: busd

Binance's BUSD has suffered over $500 million in outflows following the lawsuit brought by the CFTC. However, the impact on the stablecoin was comparatively limited to that seen after the enforcement action on Paxos last month.

Binance CEO Changpeng Zhao (Antonio Masiello/Getty Images)

USDC issuer Circle alerted the New York State Department of Financial Services (NYDFS) that BUSD’s reserves weren’t sufficient. According to a Monday report from Bloomberg, Circle issued a complaint to the NYDFS in August 2022, saying that Binance had not adequately managed its reserves to support its tokens.. Circle claims ... The post Circle Told NYDFS That Paxos-Issued BUSD Wasn’t Fully Backed appeared...

Binance CEO Changpeng "CZ" Zhao highlighted how Tether's USDT has grown amidst the issues plaguing its rivals. In a March 21 tweet, Zhao described how Binance USD (BUSD) was forced to stop other mints despite being regulated by the New...

Binance News: Back on January 29, 2022, Binance unveiled the...

Following the issuance of a Wells Notice from the Securities and Exchange Commission (SEC) to Binance USD (BUSD) issuer Paxos, the stablecoin has taken a hit in the market. Its market cap plunged rapidly as the firm was ordered to stop issuing new tokens and redemptions of the stablecoin surged. There has since been a slowdown in the selling but BNB whales are...

Tether's USDT supply reached 74 billion for the first time since May 2022, according to CryptoSlate's data. Over the past 30 days, Tether's supply added roughly 5 billion as its stablecoin rivals like Binance USD (BUSD) and USD Coin (USDC) faced regulatory scrutiny and banking...

Binance CEO, CZ, announced that due to recent “changes” in stablecoins and banks, the company’s recovery fund will be converted from Binance USD (BUSD) to “native cryptos" such as BTC. The bankruptcy of Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank, three significant crypto-backing institutions, caused the stablecoin USDC to drop from its $1 […] The post...

Binance CEO Changpeng "CZ" Zhao on Saturday...

Decentralized lending protocol Aave has finalized a plan to remove the BUSD stablecoin from its lending and borrowing market. A snapshot of a governance vote to offboard BUSD revealed that the Aave community was nearly unanimously in favor. The vote ended on Mar. 9 with 99.99% of users opting for ... The post Aave Votes to Offboard BUSD from V2 Ethereum Market appeared...

Binance USD (BUSD) has suffered a steep decline in active addresses following the regulatory crackdown by U.S. authorities. This development continues a series of dips within the Binance ecosystem in recent weeks. BUSD Active Address Shows Regression According to data from Glassnode, the number of active BUSD addresses, based on its...

The crypto market is rife with oddities. The lack of regulation has allowed meme coins, bizarre experiments, and more to flourish. As a result, nothing is too surprising to cryptocurrency investors these days. However, a shocking story made it around WeChat that claimed Binance CEO Changpang Zhao was shot by the FBI. Here is everything you need to know about the fake...

BUSD stablecoin recorded some setbacks after the US SEC's recent enforcement action on its issuer, Paxos. Aside from a plunge in trading volume, BUSD's market capitalization has also plummeted significantly. Recent...

For the first time in almost two years, Binance's USD (BUSD) market cap has dropped below $10 billion from its all-time high of $23.49 billion, set on Nov. 15, 2022. Binance Due to a scheduled delisting from a major cryptocurrency exchange and a legal crackdown on its token issuer in the United States, USD's market […] The post BUSD market cap falls below...

The future of the BUSD stablecoin looks increasingly uncertain amid mounting pressure from U.S. regulators. According to a Wednesday report from the Financial Times, BUSD has seen over $6 billion worth of outflows in the last month, after its issuer Paxos was ordered to stop minting the token and severed ... The post Crypto Investors Pulled $6B From BUSD Amid U.S. Crackdown appeared...

The post Binance’s Stablecoin BUSD Takes a Hit As Investors Liquidated $6 Billion Due to Rising Regulatory Concerns appeared first on Coinpedia Fintech News Binance, the world's largest cryptocurrency exchange, is facing increased regulatory trouble from the U.S. Securities and Exchange Commission (SEC). The SEC has reportedly been investigating Binance's stablecoin, BUSD, over concerns that it may be classified as a security. BUSD,...

Binance USD (BUSD) stablecoin trading volume dropped to its lowest point since Coinbase listed it in April 2022. According to data from Kaiko's research analyst Dessislava Ianeva, the stablecoin's trading volume in February was $9 million....

Major U.S. crypto exchange Coinbase is ending support for the Paxos-issued stablecoin BUSD. In an announcement on Monday, Coinbase said it would suspend trading of BUSD at around noon ET on March 13. We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on ... The post Coinbase Will Suspend BUSD Trading on March 13 appeared first...

Coinbase News: In a recent turn of events, Coinbase Global Inc., the largest...

Binance USD's (BUSD) supply shrank by 18.2% — roughly $2.27 billion — over the last seven days to $10.84 billion, according to CryptoSlate's data. The massive redemptions have seen the stablecoin drop out of the top 10 cryptocurrencies by market cap, according to CoinGecko. During this period, Binance...