BUSD falls to fourth position among stablecoins
After a dip of over $1 billion in the past 30 days, BUSD now sits at the fourth position in market capitalization among stablecoins.
Auto Added by WPeMatico
After a dip of over $1 billion in the past 30 days, BUSD now sits at the fourth position in market capitalization among stablecoins.
“We need more transparency over the reserves of these stablecoins, which I think we’re going to see,” Clara Medalie said.
Paxos assured its customers that their funds would "remain safely" in their accounts, but advised users to withdraw all balances from their accounts at their earliest convenience.
Tether supply across cryptocurrency exchanges has dropped 28% in 2023, however, hinting at an overall decline in demand for stablecoins.
Silvergate Bank is winding down operations, but it assured that all customer deposits would be fully repaid. Traditional Banking Risks Another pillar of the crypto industry has succumbed. Silvergate Capital...
It has been 21 days since Paxos revealed that it would no longer mint the stablecoin BUSD. Since then, over 7 billion BUSD stablecoins have been redeemed. Prior to the…
The recent action from Binance comes in the wake of the NYDFS ordering BUSD issuer Paxos to stop minting new coins.
A total of five crypto companies end their partnership with Silvergate bank on March 2 after a series of lawsuits and investigations against the fintech bank.
Silvergate is reportedly facing an investigation from the United States Department of Justice over its alleged role in the FTX collapse, involving Sam Bankman-Fried's account.
After Paxos announced that it would no longer mint the stablecoin BUSD, 4.98 billion BUSD stablecoins have been removed from circulation to date. The Paxos-managed stablecoin has also fallen out…