Stablecoin BUSD's Supply Shrunk by 3.24 Billion in 3 Days, Market Cap Is Down 20% Since Last Month

While billions of dollars in crypto assets have been withdrawn from Binance, the world's largest exchange in terms of volume, the stablecoin BUSD has seen its coins in circulation drop considerably during the last three days. While 20% of BUSD's supply was drained since last month, statistics show that 14.

Timeline of Binance-usd

Stablecoin Binance-Peg BUSD is a Binance product but is not issued by Paxos nor regulated by the New York State Department of Financial Services. Only ERC20 BUSD is regulated in New York.

Justin Sun — the creator of Tron (TRX) and one of Ethereum's (ETH) co-founders — moved $150 million in Binance USD (BUSD) from Ethereum to Tron. On-chain data provided by Arkham Intelligence show that on Dec.

Binance USD's (BUSD) supply declined by over 15% to $18.8 billion from $22 billion within the last 24 hours after Binance experienced a surge in withdrawals. The post BUSD's supply falls below $20B as USDC's supply climbs above $45B appeared first on CryptoSlate.

Binance CEO Changpeng “CZ” Zhao on Friday said the crypto exchange Binance has allocated another $1 billion in BUSD to the Industry Recovery Initiative (IRI). The move comes after several people in the crypto community shared on Twitter that Binance's $1 billion in BUSD commitment to its crypto industry recovery fund or IRI is insufficient The post Breaking: Binance CEO “CZ” Adds Another $1B In BUSD To Industry Recovery Initiative appeared first on CoinGape.

As a major development, the Poloniex crypto exchange has announced that from November 24, it will stop deposits and withdrawals functions for stablecoins on the BEP20 (BSC) network. These include USDT, USDC, TUSD and Binance's own BUSD.

A crypto trader on Reddit explains how investors can redeem Binance's stablecoin BUSD (CRYPTO: BUSD) in the unlikely event of the exchange collapsing. What Happened: Pseudonymous trader ‘Chymista Scepticus' asked if “you have BUSD either on CEX (centralized exchanges) or self custody” and if “for whatever reason binance dies”, what happens to your BUSD?

What is BUSD? Recently, there have been many questions about the safety and soundness of products in the crypto space. There have been many questions about stablecoins in general, so this piece is intended as an explanation of BUSD.

The outflow of stablecoins from exchanges has been on the rise in the wake of the FTX saga. Users appear to be taking custody of their assets, which might have a negative effect on exchanges if it persists.

Stablecoin interoperability is a necessity for blockchain projects to thrive. We delve deeper into the importance of multi-chain stablecoins in this article. The post Which Stablecoin Runs on the Most Chains? appeared first on Bitcoin Market Journal.

One of the Leading gift card marketplaces, BuySellVouchers, announces the addition of Binance USD (BUSD) as a new method of payment for users of the online platform BuySellVouchers has grown to become one of the largest gift card marketplaces in the world, with thousands of buyers and sellers trading gift cards, vouchers, and other digital