Almost $5 billion worth of BUSD stablecoins have been redeemed. Since Paxos stated on February 13, 2023, that it will no longer issue the dollar-pegged cryptocurrency BUSD. There were around 16.1 billion BUSD coins in circulation at the time of the announcement. But there are now only about 11,129,348,406 BUSD
The quantity of USD Coin (USDC) held on Binance has been increasing this week, as reported by Martin Lee, a data journalist for Nansen. Lee said on Tuesday through Twitter, that it is interesting to watch the number of USDC on Binance climb so much after the BUSD event. According
After facing the two major collapses in the year 2022, many thought the crypto industry might not see the daylight ever again. But this present year 2023, gave a great start for the assets in blockchain technology. The cryptocurrency idols, Bitcoin (BTC) and Ethereum (ETH) are sailing in the better
Since the announcement of the US Securities and Exchange Commission (SEC) action against Paxos and its stablecoin Binance USD, the largest cryptocurrency exchange Binance has experienced a spike in withdrawals from its users. The stablecoin BUSD also known as Binance USD, was introduced in 2019 by Binance and Paxos. Then
Binance will change withdrawal fees on the TRON (TRX) Network in accordance with the most recent proposal 83 that the TRON (TRX) community accepted in order to switch the energy charging system to a dynamic energy model. #Binance will adjust the TRON Network Withdrawal Fees. This adjustment is in line
New York regulators are reportedly investigating Paxos, the firm that issues the BUSD and USDP stablecoins. The Pax dollar (USDP) and Binance USD (BUSD), a stablecoin with the Binance name that is made available through a white-label service, are examples of Paxos’ stablecoins. Recent allegations about the federal bank regulator,
At the StarkWare Sessions 2023, Visa’s head of crypto business Cuy Sheffield said that the corporation aims to create a “muscle memory” to settlements by enabling clients to convert digital assets to fiat currency on its platform. In a fireside discussion during the conference, Sheffield said: “We’ve been testing how
Over a year after planning, developing, and a passing security audit. Cardano’s native overcollateralized stablecoin, Djed, finally launched on the mainnet on January 31. Djed is a cooperative project between COTI (a layer 1 blockchain network) and Input-Output Global (IOG), the blockchain firm behind Cardano. The stablecoin is now accessible
Bloomberg claimed on January 26 citing anonymous sources that Moody’s was working on a scoring system for stablecoins. That would include assessments for up to 20 digital assets. Moody’s is a credit rating agency that publishes evaluations of credit risk. In the form of ratings for publicly listed firms. The
Today the world’s second-largest cryptocurrency exchange OKX ‘OKEx’ has released a “Proof-of-Reserves” (PoR) report that reveals the detailed breakdown of the assets the exchange has in its reserves. OKX’s third monthly PoR report disclosed $7.5 billion in BTC, ETH, and USDT held by the crypto exchange, which does not include
