Tags: Binance USD

The U.S. government’s latest crypto transfers include $18 million in ETH and $13 million in BUSD amid a market rally.

Binance clarified that BFUSD isn’t a stablecoin amid comparisons to UST.

Paxos will not be charged by the SEC with issuing an unregistered security in the form of BUSD.

Galaxy Digital CEO Mike Novogratz believes Binance has satisfied regulators and users after its $4.3 billion settlement with United States authorities.

Binance to End Support for BUSD Stablecoin, Remaining Balances Converted to FDUSD

The SEC derided Binance’s request to have the regulator’s suit thrown out, claiming the crypto exchange hasn’t correctly applied the law.

Circle noted that assets pegged to USD are not securities, partly because users are not expecting any profit from acquiring them.

SEC said in a court filing that Binance.US has produced only 220 documents during the discovery process many of which were “unintelligible screenshots and documents without dates or signatures.”

Paxos has earlier said it will halt support of Binance‘s stablecoin by February 2024, now the exchange has said it will also stop support by that time.

After having its banking ties slashed, crypto exchange Binance.US has revived its U.S. dollar on-ramp through a new partnership with MoonPay.

Binance has been experimenting with relatively lesser-known stablecoins after a pause on BUSD.

After 16 consecutive months of decline, the stablecoin market dominance has fallen to 10.3 of the total crypto market capitalization.

The last time the market cap experienced such a jump was shortly after the crash of Silicon Valley Bank.

After a dip of over $1 billion in the past 30 days, BUSD now sits at the fourth position in market capitalization among stablecoins.

DAI is now the third-largest stablecoin trailing behind Tether (USDT) and USDC Coin (USDC).

BNB is clinging on to its short-term bullish bias amid the Binance-SEC fiasco but a 30 price decline is still on the cards.

SEC takes legal action against Binance, accusing the cryptocurrency exchange of violating US securities laws.

The SEC lawsuit comes within months of the CFTC lawsuit against Binance mounting its regulatory woes in the U.S.

The world’s largest cryptocurrency exchange has been hit with an SEC suit that many saw coming, but the details will be studied closely.

At a time when USDT is touching new market cap highs, the other stablecoins are struggling to keep their market dominance.

Over the past year, Circle‘s USD Coin has seen its market share decline from 34.88 to 23.05. Tether‘s USDT shows a contrasting picture.

Stablecoin market shrinks for the 14th month, raising concerns for cryptocurrency prices and liquidity.

A mainstream report citing multiple insiders claimed that Binance mingled customer’s funds with corporate funds at Silvergate Bank.