Coinbase to suspend BUSD trading Binance BUSD BinanceUSD
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!
The exchange added that the BUSD currently held in user accounts will remain accessible and users will be able to withdraw their funds at any time. It was actually the September move by Binance to force its users to convert alternate stablecoins held on the exchange to BUSD that initiated these events, as USD Coin issuer Circle informed the New York Department of Financial Services, which is responsible for regulating Paxos, that Binance was failing to maintain sufficient reserves to back the BUSD it had issued.
Patrick Hillman, chief strategy officer at Binance, told Forbes that the movement of money among wallets was common practice and represented no nefarious intentions. “There was no commingling,” he said, because “there’s wallets and then there is a ledger” which tracked all funds owed to users and funds or tokens going to wallets, which are simply “containers.”
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coinbase to suspend trading of Binance USD (BUSD)Coinbase, a leading U.S. crypto exchange, announced that it would suspend the trading of Binance USD (BUSD). The decision comes right when the U.S. Securities and Exchanges Commission (SEC) labeled the stablecoin as a security. Notably, Coinbase is the first major U.S.-based crypto exchange to put a distance between the stablecoin after regulatory action was […]
Read more »
Coinbase’s Chief legal officer talks about developments in regulatory landscapeCoinbase’s Chief Legal Officer Paul Grewal discussed the regulatory landscape in crypto. Grewal highlighted the national security implications of the regulator’s current stance on crypto. Paul Grewal, the Chief Legal Officer of Coinbase, recently appeared in an episode of Unchained Podcast hosted by popular crypto influencer Laura Shin. The podcast, which also featured Polygon Labs’ […]
Read more »
Voyager Digital sells crypto assets on Coinbase, but here’s the catchVoyager is selling its crypto assets via Coinbase. VGX plummets as buyers continue to shun the alt. According to on-chain analyst Lookonchain, bankrupt crypto brokerage firm Voyager Digital has been selling its crypto assets via leading exchange Coinbase since 14 February. 1/ It seems that Voyager is selling assets through Coinbase. We noticed that Voyager […]
Read more »
Crypto counsel John Deaton challenges SEC’s narrative in courtThe pro-Ripple lawyer has been challenged by California plaintiffs in the ongoing Ripple SEC lawsuit. The outcome of the current case could have a major impact on the future of XRP and the cryptocurrency industry as a whole. In the ongoing Ripple lawsuit, California plaintiffs have challenged John E. Deaton, who filed a motion to […]
Read more »
Ray Bates column: Winter’s realities present us with opportunities and challenges | SaltWireGUYSBOROUGH, N.S. — The American statesman Benjamin Franklin is said to have stated that the only two things we are certain of are taxes and death. I ...
Read more »
REE producer Lynas reports half-year net profit of A$150M despite ‘significant' production challengesA roundup of all the mining news in the precious metals sector with a variety of company news, mining sector analysis, newsletter writer insights and executive interviews.
Read more »