BUSD
Binance USD (BUSD) is a stablecoin backed 1:1 with the U.S. dollar, issued by Binance in partnership with Paxos. Regulated by the New York State Department of Financial Services (NYDFS), BUSD was launched on September 5, 2019. It combines the stability of the dollar with blockchain technology and is issued as both ERC-20 and BEP-2 tokens. Monthly audit reports are available on the official website, reflecting its commitment to transparency and regulatory compliance.
SEC Ties Terraform Ruling to Binance in Securities Violations and Deceptive Practice Case
SEC links Terraform Labs ruling to Binance case, alleging unregistered securities offerings and deceptive practices in crypto trading.
Binance to Phase Out BUSD Support by February 2024 Amid Paxos Minting Halt
Binance will discontinue support for Binance USD (BUSD) by February 2024, affecting trading, futures, and loans. Users holding BUSD are advised to convert their assets to other stablecoins or digital assets on Binance, with a 1:1 conversion rate.
Binance to Remove ALCX, FOR, LOOM, NMR, PEOPLE, PUNDIX, SPELL, STORJ from BUSD Trading Pairs on August 25, 2023
Effective from 2023-08-25 at 03:00 (UTC), the following spot pairs will no longer be available for trading on the platform: ALCX/BUSD, FOR/BUSD, LOOM/BUSD, NMR/BUSD, PEOPLE/BUSD, PUNDIX/BUSD, SPELL/BUSD, and STORJ/BUSD.
Binance to Delist LTC/BUSD and DOGE/BUSD Perpetual Contracts
Binance Futures has announced its decision to delist the LTCBUSD and DOGEBUSD Perpetual Contracts.
Binance.US Halts BUSD Services Amid Investigation
Binance.US has temporarily halted BUSD services including deposits and withdrawals, and buying, selling, and converting crypto options via the OCBS. The platform is investigating the issue and is also transitioning to new banking and payment service providers, leading to the temporary suspension of certain U.S. dollar deposit services.
Binance Replaces BUSD with TUSD and USDT in SAFU Fund
Cryptocurrency exchange Binance has replaced its Binance USD (BUSD) holdings in its Secure Asset Fund for Users (SAFU) with TrueUSD (TUSD) and Tether (USDT) in response to Paxos' move to stop minting new BUSD. SAFU is an emergency insurance fund established by Binance to protect users' funds in case of security breaches or other unforeseen events.
Binance pivots to stablecoins after SEC regulatory action
Binance, the largest cryptocurrency exchange by trading volume, has turned to alternative stablecoins such as TrueUSD (TUSD) and decentralized stablecoins, following a regulatory action against its native stablecoin, Binance USD (BUSD), by the US Securities and Exchange Commission (SEC). Binance was forced to seek alternatives after the New York Department of Financial Services (NYDFS) asked BUSD issuer Paxos Trust to stop minting new BUSD altogether.
Binance-Backed WazirX Exchange to Delist USDC, USDP & TUSD
Indian crypto platform WazirX has announced it will be delisting USD Coin (USDC), USDP, and TUSD in a move that is similar to its so-called parent company, Binance Exchange.
Bank of America Says Binance to Benefit from Increased Supply of Its Own Stablecoin
BAC has given more clarification on how Binance’s automatic conversion of other stablecoins could impact its business as well as its own BUSD stablecoin.
Binance to Convert Users’ USDC Into Its Own Stablecoin
Binance said the move aims to improve liquidity and capital efficiency for customers.