Binance pushes new stablecoin as it confirms plan to cease BUSD support
Paxos has earlier said it will halt support of Binance's stablecoin by February 2024, now the exchange has said it will also stop support by that time.
Paxos has earlier said it will halt support of Binance's stablecoin by February 2024, now the exchange has said it will also stop support by that time.
The new exchange does not custody customer funds itself to avoid a conflict of interest — and a hot-button issue with the SEC.
After a dip of over $1 billion in the past 30 days, BUSD now sits at the fourth position in market capitalization among stablecoins.
Statistics recorded on April 15, 2023, show that the number of coins in circulation for the stablecoin BUSD dropped below the 7 billion range to 6.68 billion, marking the lowest…
“We need more transparency over the reserves of these stablecoins, which I think we’re going to see,” Clara Medalie said.
Paxos assured its customers that their funds would "remain safely" in their accounts, but advised users to withdraw all balances from their accounts at their earliest convenience.
Tether supply across cryptocurrency exchanges has dropped 28% in 2023, however, hinting at an overall decline in demand for stablecoins.
On Monday, Binance CEO Changpeng Zhao, also known as CZ, announced that the company had decided to convert $1 billion worth of BUSD from the Industry Recovery Initiative fund into…
The crypto-friendly Signature Bank was a key partner for many crypto firms, some which have been voluntarily disclosing their exposure to the recently closed firm.
At 4:30 p.m. Eastern Time, Silvergate Bank announced its intention to wind down the crypto-friendly bank’s operations and voluntarily liquidate the company’s assets. The news follows significant financial troubles the…