BUSD – DIGIT INFO

Binance used ‘tortured’ interpretation of law in bid to toss suit, says SEC

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

Go to Source

Stablecoin de-pegging plagued USDC and DAI more than others: Analysts

Stablecoins from Circle and MakerDAO have been more unstable than those from Tether and Binance over the past couple of years, according to a new report from S&P Global.

Go to Source

Binance pushes new stablecoin as it confirms plan to cease BUSD support

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.

Go to Source

Paypal USD: Boon for Ethereum but not decentralization, says community

Proponents say PayPal’s PYUSD could see Ethereum become the money layer of the internet, while opponents argue that it’ll act like a poorly designed CBDC.

Go to Source

Tether Grows 2.3% as Stablecoin Economy Loses $2.4 Billion in Value Since March 31

While several top digital assets have decreased in value against the U.S. dollar over the past month, the stablecoin economy has lost $2.4 billion in value since March 31, 2023. Four of the top five stablecoins experienced net redemptions over the last 30 days, except for tether, which grew by 2.3% during that time. Four […]

Go to Source

Tether Stablecoin Sees 22% Growth in 2023 Despite Dollar-Pegged Token Economy’s Contraction

Since January 2023, the number of tether stablecoins in circulation has grown from 66 billion to the current 80.9 billion, representing growth of more than 22% this year. Tether’s growth is approaching the high of $83 billion in stablecoins in circulation that the project saw almost a year ago, in May 2022. Tether Supply Is […]

Go to Source

With Close to 10 Billion Stablecoins Redeemed, BUSD’s Supply Drops to Lowest Level Since April 2021

Statistics recorded on April 15, 2023, show that the number of coins in circulation for the stablecoin BUSD dropped below the 7 billion range to 6.68 billion, marking the lowest number of BUSD in circulation since April 2021. Furthermore, data indicates that the supply of BUSD has shrunk by 19.8% over the past 30 days. […]

Go to Source

Tether supply hits $80B for the first time since May 2022 — stablecoin rivals stumble

Tether supply across cryptocurrency exchanges has dropped 28% in 2023, however, hinting at an overall decline in demand for stablecoins.

Go to Source

Binance-CFTC FUD puts BNB price at risk of drop toward $200

Recent BNB price trends show that the token declines in the short term after regulatory crackdowns. However, this time the correction may last longer.

Go to Source

Binance Experiences Significant BTC, ETH, and Stablecoin Withdrawals Following CFTC Lawsuit

After the U.S. Commodity Futures Trading Commission sued Binance for alleged violations of trading and derivatives rules, a significant amount of cryptocurrency was withdrawn from the exchange. Data from analytics provider Nansen shows $400 million in Ethereum-based funds were withdrawn in 24 hours, and 3,655 bitcoin worth more than $99 million were withdrawn over the […]

Go to Source