Over 388 BUSD has been burned in the last 24 hours.
The stablecoin trading around the $0.99 price range.
Since the announcement of the US Securities and Exchange Commission (SEC) action against Paxos and its stablecoin Binance USD, the largest cryptocurrency exchange Binance has experienced a spike in withdrawals from its users.
The stablecoin BUSD also known as Binance USD, was introduced in 2019 by Binance and Paxos. Then it has branded with Binance, the largest crypto exchange in the world by daily trading volume. According to the blockchain data tracker Peckshield, the BUSD token has seen massive redemptions. Overall 388 million BUSD were burnt in the last 24 hours.
Further, According to Nansen’s blockchain data, customers have withdrawn more digital assets in the last 24 hours than they have deposited ($2.8 billion versus $2 billion).
However, Binance’s CEO Changpeng Zhao ‘CZ’ stated in his Twitter post that they will continue to support BUSD for the foreseeable future.
We współpracy z: https://thenewscrypto.com/sec-scrutiny-against-paxos-led-massive-binance-withdrawals/
