- No-fee BTC trading feature has been removed from BUSD on Binance amid “recent events”.
- The exchange’s now-favorite stablecoin, TUSD, is enjoying a zero-fee BTC trading bonus.
- Binance continues to move away from BUSD while embracing TUSD.
Stablecoin BUSD has come under fire since its issuer, Paxos, was hit Come closer by the Securities and Exchange Commission and requested to stop minting the coin by New York regulators in February.
It has been whirlpool For BUSD since regulators stepped in, with the market cap rapidly declining and Binance has severed any remaining ties they had to the currency. The latest from the world’s largest exchange is that it has removed fee-free bitcoin trading with BUSD.
Binance has it regularly I offered zero maker and taker fees on popular BTC spot pairs in various campaigns, but the mainstay has always been BUSD/BTC. However, due to “recent events,” the exchange has removed the fee-free bitcoin trading with BUSD and moved it to TrueTUSD (TUSD).
Important update. Due to recent events, we are moving BTC 0 trading fees from BUSD to TUSD.
Let’s spread the liquidity to more pairs.
https://t.co/6SwqjZYSFZ– Czechoslovakia 🔶 Binance (cz_binance) March 15, 2023
moving forward
Since February 14th, Binance has released public statements cutting ties to BUSD; Binance CEO Changpeng ‘CZ’ Zhao Even advertiser Never thought that BUSD would be successful when it was launched.
The shift away from BUSD came with a shift towards the stablecoin TrueUSD (TUSD). Binance turned its attention to TUSD when it minted about $150 million of the stablecoin on February 27.
At the time of the $150 million coin mint, there were rumors that Binance was pushing to replace its dependence on BUSD in the ecosystem with TUSD. This seems justified as Binance is taking another step away from its stablecoin of the same name towards TUSD.
No $fact for that matter
Binance, being more entrusted with the TUSD stablecoin, inadvertently boosted TrueFi’s TRU token. However, investors who buy up to $TRU, thinking it is pegged to TUSD, are mistaken as the two projects is divided In June 2022, which CZ also indicated in the latest announcement.
TRU should not be correlated with TUSD.
– Czechoslovakia 🔶 Binance (cz_binance) March 15, 2023
on the flip side
- binance dumped An additional $1 billion in BUSD on Monday, March 13, turning it into tokens like BTC, BNB, and ETH.
Why should you bother
Binance is an influential player in the crypto space. Their decision to pull out of BUSD, along with US regulatory concerns, should be the death knell for the project.
Read more about how Binance moved away from BUSD and into TUSD:
With BUSD Troubles Still, Could Binance Move To TUSD?
Read more about the banking choices of crypto firms after the collapse of US banks:
US Banking Collapse: Cryptocurrency will be offered by HSBC, Santander and Deutsche Bank in Europe.
