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Six days ago, a few hours before the blockchain infrastructure platform Paxos announced it would no longer mint BUSD stablecoins, $2.86 billion worth of BUSD were redeemed. Currently, Binance is the most active exchange trading BUSD tokens, and the stablecoin still commands roughly 10.7% of the crypto economy’s $67.71 billion in global trade volume over … Read more
The Binance CEO contradicted a Bloomberg source concerning reducing the company’s activities after increasing pressure from U.S. regulators. Go to Source Powered by WPeMatico
Join us as we discuss whether it’s time to consider stacking some sats and buying into some attractive altcoins. Go to Source Powered by WPeMatico
Despite providing many novel services, DeFi does not differ substantially from traditional finance in its functions, the Financial Stability Board stated. Go to Source Powered by WPeMatico
Tether’s USDT has seen its market capitalization rebound to nearly $70 billion as the SEC ordered Paxos to stop issuing BUSD, the third-largest stablecoin. Go to Source Powered by WPeMatico
A slew of technical, fundamental, and on-chain indicators hint at more pain for BNB price in February. Go to Source Powered by WPeMatico
Rumors swirled on Twitter that the stablecoin issuer received a litigation notice from the U.S. securities regulator but a Circle executive rebuffed the claim. Go to Source Powered by WPeMatico
While the stablecoin market has seen significant redemptions in the past three months, the supply of tether, the largest stablecoin by market capitalization, has increased by 2.46 billion since mid-November 2022. Tether is the only one of the top five stablecoins by market valuation that has seen a supply increase in the past three months. … Read more
Net outflows at the cryptocurrency exchange hit $788 million over the last 24 hours, however, Binance told Cointelegraph that “Funds are SAFU.” Go to Source Powered by WPeMatico
Before Paxos published a press release at 6 a.m. Eastern time Monday, the stablecoin BUSD had approximately 16.16 billion tokens in circulation. In the past eight hours, nearly $290 million has been redeemed, bringing the number of BUSD in circulation to 15.87 billion. Stablecoin BUSD Sees Increased Redemption Activity During Regulatory Scrutiny The stablecoin BUSD … Read more