Binance plans to “gradually” end support for its BUSD stablecoin by February 2024, as “Paxos halted minting of new BUSD” after an NYDFS order in February 2023
Jamie Crawley / CoinDesk :
CoinDesk Jamie Crawley
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Discussion
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@binance
@binance
on x
As Paxos has halted minting of new BUSD, #Binance will now gradually remove support for the stablecoin on our platform. BUSD will always remain backed 1:1 by USD, and we continue to support a wide range of other stablecoins. Find more details below.
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@napgener
@napgener
on x
This is after making it a free trading pair to attract more users of it so CZ and SUN could exit all of their BUSD
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@ben_mckenzie
Ben McKenzie
on x
“Users are encouraged to convert their BUSD assets into other available assets on Binance prior to February 2024. Users may trade their BUSD balances for FDUSD at zero trading fees, or convert their BUSD balances to FDUSD at 1:1.” Hilarious. https://www.binance.com/...
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r/CryptoCurrency
r
on reddit
Binance to ‘Gradually’ End Support for BUSD Products