Binance will withdraw from the BUSD stablecoin assets from its Industry Recovery Initiative (IRI) crypto industry assistance fund, to which the company previously sent $1 billion, Changpeng Zhao, the head of the exchange, said. The remaining funds in the fund will be converted into cryptocurrencies such as Bitcoin, Ethereum and BNB. “Given the changes in...
The supply of Binance stablecoin (BUSD) has decreased by $5 billion in 2 weeks. Since February 13, the market capitalization of the asset has decreased by 32%, from $16.1 billion to $10.97 billion, according to CoinMarketCap. On February 13, it became known that the New York State Department of Financial Services (NYDFS) ordered the BUSD...
The New York State Department of Financial Services (NYDFS) has ordered Paxos Trust to stop issuing new Binance USD (BUSD) tokens, The Wall Street Journal (WSJ) reports, citing Binance. At the same time, Paxos will continue to manage the redemption of the BUSD token. BUSD is a Binance-branded stablecoin pegged to the US dollar. Paxos...
