Following Paxos’s run-in with the SEC over its BUSD stablecoin, decentralized protocol Aave is poised to pass a proposal to freeze BUSD on its platform. The proposal suggests Aave switch to a differen...
Tag: BUSD
Binance USD [BUSD] maintains its peg even as outflow increases
BUSD has been able to maintain the $1 peg despite its FUD. Binance’s BUSD reserve has declined to around 12.4 billion. The regulatory hammer hung above Binance for some time before landing on Binance ...
Terra tokens declared securities; BUSD market cap down 15%
Ad The biggest news in the cryptoverse for Feb. 17 saw Terra-related tokens lose part of their value as the U.S. SEC declared them to be securities. Meanwhile, Binance saw the market cap of its BUSD s...
Binance CEO CZ Reports “BUSD Situation” After Regulatory Attack
Changpeng Zhao (CZ), Binance CEO has always been vigilant against market FUD. In this pursuit, CZ went on to explain the BUSD situation and the drop in its market capitalization. Earlier, U.S. Securit...
Binance reserves lost $2.3B following BUSD debacle
Ad Investors withdrew around $2.3 billion worth of Binance USD (BUSD) from Binance within four days after the Securities and Exchange Commission (SEC) issued a warning to BUSD issuer Paxos. The SEC re...
Binance mints 50M TrueUSD days after Paxos ordered stop issuing BUSD
Only days after reports of United States regulatory scrutiny of Paxos and Binance USD (BUSD), cryptocurrency exchange Binance has minted nearly $50 million worth of TrueUSD (TUSD). The transaction to...
Changpeng Zhao Makes Stablecoin Prediction Following SEC’s Binance USD (BUSD) Enforcement Action
The CEO of crypto exchange giant Binance says investors may turn to non-US dollar-pegged and algorithmic stablecoins amid regulatory pressure on Binance USD (BUSD). During a Twitter Spaces AMA on Feb....
TrueFi token clocks triple digit gain as Binance mints TUSD stablecoin
DeFi lender TrueFi’s token, TRU, jumped over 140% shortly after Binance minted $50 million worth of the TrueUSD stablecoin. Binance minted 49.99 million TRU at around 10 a.m. EST today, ...
Coinbase Weighs In on SEC Banning Binance USD (BUSD), Says Stablecoins Are Not Securities
Top US crypto exchange Coinbase is weighing in on the regulatory uncertainty swirling around stablecoins this week. The issue is getting attention because New York-based crypto company Paxos said on M...
Rival Stablecoin Warned NY Financial Watchdog About BUSD
Binance USD might just be in hot water because of rival stablecoin issuer Circle. Circle, the creator of USD Coin, warned the New York State Department of Financial Services (NYDFS) in the autumn of 2...
New York Department of Financial Services orders Paxos to stop BUSD stablecoin creation
Join Our Telegram channel to stay up to date on breaking news coverage Recently, rumors emerged that Paxos Trust, a regulated company that created the Binance USD (BUSD) stablecoin, received a notific...
Binance Stablecoin Outflows Top $1B as BUSD Supply Shrinks
Binance USD (BUSD) has given up millions in supply as the Securities and Exchange Commission (SEC) flagged plans to sue the stablecoin’s issuer Paxos as part of its crypto regulation tightening. Paxos...
As BUSD Dies, Tether’s USDT Soaks Up Another $1 Billion
Stablecoin giant Tether saw its flagship token, USDT, grow by nearly $1 billion in the aftermath of a regulatory crackdown against one of its rivals, BUSD. The token’s market cap started out at $68.4...
BUSD, Paxos, and the Recent Scrutiny of Paxos
Financial services using cryptocurrencies The head of research at Matrixport is of the opinion that the current investigation of Paxos and its Binance USD (BUSD) token is not an assault on stablecoins...
BUSD Debacle Unlikely To Impact Crypto Market Much: Report
The latest crackdown on Binance USD (BUSD) is unlikely to cause any “large structural changes” in the crypto market, according to this report. What BUSD’s Crackdown Means For Wider Crypto Market A cou...
BUSD Is Under Attack. Are USDC and USDT Next?
Though regulatory actions against stablecoin issuer Paxos come amid a crackdown of the space after a wild 2022, some say the impact on competitors may be limited. Other industry participants are...
$1 Billion Outflows Recorded on Binance in Wake of BUSD News: Details
Tomiwabold Olajide Binance records $1 billion in outflows as withdrawals surge in wake of BUSD news According to Dune Analytics data shared by crypto analyst Ali Martinez, top crypto exchange Binance ...
BNB Token Plunges as Binance, Paxos Shutter BUSD Stablecoin Product
The recent regulatory action against Paxos and Binance over the partnership’s dollar-pegged stablecoin has spooked investors. Following the crackdown from the SEC and the New York Department of ...
Binance USD (BUSD) Stabilizes at $1 After CEO Clarifies Connection to Paxos-Issued Token
The Binance USD (BUSD), the third-largest stablecoin by market cap, is returning to its intended $1 peg after Binance CEO Changpeng Zhao commented on the crypto exchange’s connection to the popular Pa...
The SEC Goes After Unregistered Securities
Getty Images Key takeaways The SEC has recently escalated its campaign against unregistered securities, which they claim put investors in risky situations without enough transparency Kraken has shut d...
USDC and BUSD market caps fall as regulators bash stablecoins
Stablecoins such as USD Coin (USDC) and Binance USD (BUSD) see their market capitalization fall following increasing regulatory scrutiny. Market data shows that BUSD’s market cap has fallen by 4.56% f...
AAVE to ‘freeze’ and replace BUSD? New proposal suggests…
The Aave community proposed to freeze BUSD reserves in the Ethereum market. AAVE price skyrocketed with a tendency to remain green for a while. Following the unfortunate events where the SEC proscribe...
Paxos to Cease Minting New BUSD and End Relationship with Binance
The New York Department of Financial Services (NYDFS) has directed Paxos to cease issuance of new BUSD tokens, effective Feb. 21. “BUSD will remain fully supported by Paxos and redeemable to onboarded...
Binance snags former Gemini compliance officer amidst scrutiny over BUSD
Ad Binance has hired and promoted a compliance executive who formerly worked for its competitor, Gemini, according to a Feb. 14 report from the Wall Street Journal. The report indicated that Noah Perl...
CZ tackles Paxos, BUSD issues; Circle denies getting Wells notice from SEC
Ad The biggest news in the cryptoverse for Feb. 14 saw Binance CEO Changpeng Zhao address various issues related to Paxos and the BUSD stablecoin. Meanwhile, Circle denied that the U.S. SEC has served...
Binance’s CZ says BUSD Funds in Paxos are #SAFU
Changpeng Zhao, Binance CEO, recently announced that the exchange will still support BUSD. The statement was issued after New York regulators and the SEC ordered Paxos to restrict the stablecoin’s min...
Uniswap [UNI] caught in firing line as BUSD FUD threatens to reverse gains
Transaction fees on Uniswap nosedived as users stayed away. Whales stayed faithful to UNI as it was one of the most purchased tokens. Uniswap[UNI] saw its Binance USD [BUSD] holdings deplete sharply a...
Curve Pools Drained of Tether as BUSD Holders Dump Stablecoin
Stablecoin holders have drained BUSD liquidity from Curve Finance’s busdv2 liquidity pool as issuer Paxos faces regulatory upheaval. Investors increased the proportion of BUSD in Curve’s pool from 69%...
Traders turn to USDT as BUSD dominates heavily imbalanced Curve liquidity pool
Ad Curve pool’s Binance USD (BUSD) V2 pool is heavily imbalanced, with crypto traders showing preferences for Tether’s USDT. The BUSD V2 dashboard shows that the embattled stablecoin accounted for rou...
USDC’s Circle Not Behind Action On BUSD News
In the wake of the regulatory action against the issue of BUSD and the involvement of Binance and Paxos in it, Binance CEO CZ spoke to the audience in an Ask Me Anything event on Tuesday. He said Bina...
Paxos Halts BUSD Minting as SEC Prepares Lawsuit
The SEC is reportedly taking aim at the owner and issuer of the world’s third-largest stablecoin, Binance USD. The U.S. Securities and Exchange Commission plans to sue Paxos Trust for violating invest...
Stablecoins not the target in BUSD crackdown: Matrixport head of research
Crypto financial services Matrixport’s head of research believes the recent scrutiny of Paxos and its Binance USD (BUSD) token is not a direct attack on stablecoins themselves. In a Feb. 14 ana...