With U.S. regulators moving to limit stablecoin products, strategists at Morgan Stanley think the broader crypto economy should be paying attention. “Falling stablecoin market capitalizati...
Tag: BUSD
US SEC allegedly notified Paxos of an upcoming lawsuit tied to Binance USD (BUSD)
Join Our Telegram channel to stay up to date on breaking news coverage The US SEC has made a series of drastic moves targeting the crypto sector. First, it announced that unregistered staking is no lo...
684 million BUSD burned for redemptions amid US regulatory scrutiny
Just over a day after it categorically denied regulator claims Binance USD (BUSD) is a security, Paxos has burned some 684 million of the stablecoin for U.S. dollar redemptions, on-chain data show. &#...
Ethereum-Based DeFi Platform Sees Massive 900% Increase in Trading Volume After Regulators Target BUSD
Trading volume on decentralized finance platform Curve Finance (CRV) is going parabolic following news that Paxos will stop issuing Binance USD (BUSD). Curve Finance is a decentralized exchange (DEX) ...
Paxos ‘categorically disagrees’ with the SEC that BUSD is a security
Paxos Trust Company says it “categorically disagrees” with the United States securities regulator that has described Binance USD (BUSD) as a security. In the Feb. 13 statement, the BUSD issuer confir...
Binance’s BUSD Controversy Prompts Calls for Decentralized Alternative
Alex Dovbnya Paxos has been ordered to stop issuing BUSD token due to unresolved issues related to Paxos’ oversight of its relationship with Binance The controversy surrounding Binance’s s...
Was BUSD, Binance’s Shadow Bank Solution to Access USD-Decode the Truth Here!
Binance appears to be in deep waters as the platform has been speculated to carry out multiple administered moves in the past and in the present time as well. Recently, the SEC’s crackdown on Paxos, r...
CZ Outlines Need for Stablecoins Pegged to Other Fiat Currencies Amid BUSD Crackdown
The founder and chief executive of Binance spoke in a Twitter AMA (Ask Me Anything) about different hot topics in the cryptocurrency community as of now, with one of them being expectedly the BUSD cla...
Binance processes $1B withdrawals amid regulatory scrutiny on BUSD
Ad Binance users are withdrawing their crypto assets following the recent regulatory scrutiny of one of the exchange’s products. In the last 24 hours, the exchange saw outflows of $621 million, accord...
Terra’s classic stablecoin surges on BUSD failure, but is still only worth $0.03
Ad The depegged stablecoin Terra Classic USD (USTC) regained a small amount of value today alongside news that issuance of Binance USD (BUSD) will be halted. The price of USTC rose 19.14% to 3.1 cents...
$900 million in crypto leaves Binance in a day as Paxos suspends BUSD minting
After the cryptocurrency sector was hit by the news that crypto firm Paxos, the issuer of Binance dollar-pegged stablecoin, was ordered by the regulators to halt the BUSD minting, nearly $1 billion in...
SEC Orders to End Issuance of BUSD: Crypto Community Shudders
The rigid crypto regulations have heavily impacted the crypto space. The SEC-Paxos lawsuit has created fear among the crypto community. The prices of the leading cryptocurrencies gradually rose by 1% ...
Nearly $1 billion in crypto outflows from Binance in a day as Paxos suspends BUSD minting
After the cryptocurrency sector was hit by the news that crypto firm Paxos, the issuer of Binance dollar-pegged stablecoin, was ordered by the regulators to halt the BUSD minting, nearly $1 billion in...
Paxos and Binance end their partnership for BUSD, halting its minting
Paxos has published a media statement to announce that it will soon halt the minting of BUSD. The development comes after the blockchain and tokenization infrastructure platform announced that it woul...
Crypto, SEC in Paxos: “do not issue BUSD”
Crypto news: Paxos Trust Company, a New York-based financial institution, has been instructed by the New York State Department of Financial Services (NYDFS) and the Securities and Exchange Commission ...
BUSD inflow on CEXes rises as Paxos disagrees with the SEC
The US Securities and Exchange Commission (SEC) issued a Wells notice to Binance USD’s (BUS) issuer Paxos on Feb. 13. A few hours after the CEO of Binance, Changpeng Zhao (CZ), broke the news, on-chai...
Circle reportedly informed NYDFS about Binance’s BUSD
Ad Stablecoin issuer Circle filed a regulatory complaint last fall regarding Binance’s stablecoin reserves, according to a Bloomberg report on Feb. 13. Circle reported BUSD to NY regulator Bloomberg’s...
Binance USD (BUSD) Redemptions Surge to $360M as Investors Panic
Paxos, the issuer of the Binance stablecoin BUSD has announced that it will no longer mint the dollar-pegged asset from Feb. 21. The move came in response to an SEC threat of legal action, accusing th...
Tether Mints 1 Billion USDT Amid Bitcoin (BTC) Price Drop and Binance USD (BUSD) Scandal
Gamza Khanzadaev 1 billion USDT minted by Tether and fear and doubt surrounding Binance USD (BUSD) intensifies As reported by Whale Alert, stablecoin issuer Tether has minted another billion USDT. The...
Paxos To Suspend BUSD Minting And Sever Ties With Binance USD
Join Our Telegram channel to stay up to date on breaking news coverage The New York Department of Financial Services (NYDFS) has ordered blockchain company Paxos to stop issuing the dollar-pegged Bina...
Controversy around BUSD drives calls for decentralization
A recent proposal for Binance on Twitter has sparked a response from the firm’s CEO. An account named @frxresearch recently proposed that the cryptocurrency exchange Binance develop its own decentrali...
What If Court Rules BUSD A Security, Binance CEO CZ Replies
Binance CEO, Changpeng Zhao (CZ) finally broke his silence to present his take on the U.S. SEC’s probe on Paxos in relation to stablecoin Binance USD (BUSD). However, Paxos announced that it will be e...
BUSD leaving exchanges fall to $40M from December’s $3B
Ad The amount of Binance USD (BUSD) leaving exchanges fell to $40 million from over $3 billion recorded in December 2022, according to Glassnode data analyzed by CryptoSlate. The chart below represent...
Paxos to stop minting BUSD stablecoins for Binance
Blockchain infrastructure platform Paxos Trust Company will halt the issuance of new Binance USD (BUSD) stablecoins amid the ongoing probe by New York regulators. Paxos officially announced on Feb. 13...
Circle Warned NYDFS About Binance Reserves Prior to BUSD Crackdown: Report
Circle – the issuer of the world’s second-largest stablecoin, USDC – reportedly warned the New York Department of Financial Services (NYDFS) last Autumn that Binance has been mismanaging its token res...
Binance to support BUSD while exploring non-USD stablecoins, CZ says
Cryptocurrency exchange Binance plans to continue supporting its Binance USD (BUSD) stablecoin despite its issuer, Paxos Trust Company, facing a stop order from American regulators. As reported by Coi...
Stablecoin withdrawals reach almost $500M in wake of BUSD news
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FUD Around BUSD May Drag the Bitcoin Lower-This is What One can Expect from BTC Price This Week!
The fresh weekly trade began with the rounds of the SEC restricting Paxos from issuing new BUSD coins. The platform is believed to face a lawsuit from the SEC in connection with issuing BUSD labeled a...
Could Binance USD [BUSD] be the next SEC casualty as regulator digs deep into…
Paxos, the BUSD issuer, received a letter from the SEC on allegations of being unregistered security. The investigation could be a detriment on Binance’s part as NYDFS orders a stop to BUSD minting. B...
BUSD Redemptions Soar Near $290 Million in 8 Hours After NYDFS Consumer Alert – Bitcoin News
Before Paxos published a press release at 6 a.m. Eastern time Monday, the stablecoin BUSD had approximately 16.16 billion tokens in circulation. In the past eight hours, nearly $290 million has been r...
SEC lawsuit against Paxos over BUSD baffles crypto community
Paxos Trust Company-issued stablecoin Binance USD (BUSD) being in the sights of United States regulators sparked various reactions from the crypto community. On Feb. 13, the United States Securities a...
Paxos to Stop Issuing Dollar-Pegged Token BUSD
The New York Department of Financial Services has dealt a blow to the cryptocurrency sector by directing Paxos Trust Co. to halt the issuance of one of the largest dollar-pegged cryptocurrencies. The ...