BNB declines after Paxos ordered to stop BUSD issuance

BNB declines after Paxos ordered to stop BUSD issuance
фото показано с : invezz.com

2023-2-13 14:33

Binance’s native coin BNB has declined nearly 6% in the past 24 hours, trading to lows of $289 on major cryptocurrency exchanges. According to CoinGecko data, Binance Coin price hit highs of $321 late Sunday, but is now trending at levels last seen in mid-January.

Binance Coin dumps after Paxos ordered to stop BUSD issuance

BNB price falling below $290 early Monday following news that Paxos Trust had been asked to stop issuing the Binance USD (BUSD) token. BUSD is a stablecoin pegged on the US dollar, and is wholly owned by US-regulated Paxos. The company also mints the Pax Dollar (USDP) stablecoin.

The order to stop minting new BUSD tokens came from the New York Department of Financial Services (NYDFS). There are also reports that the US Securities and Exchange Commission (SEC) is suing Paxos for offering an “unregistered security.” BUSD is a key stablecoin in the Binance ecosystem and negative news definitely had to have an impact on related assets.

But despite the negative reaction seen in BNB price, Binance CEO Changpeng Zhao has said the crypto exchange will continue to support BUSD. He pointed out that while BUSD bears the Binance USD name, Binance neither issues nor handles customer redemptions.

However, given the regulatory uncertainty, Binance could look to pivot away from BUSD as its main stablecoin, Zhao added. In this case, Binance could look to a non-USD backed alternative or find another issuer not regulated in the US.

7/ Binance will continue to support BUSD for the foreseeable future. We do foresee users migrating to other stablecoins over time. And we will make product adjustments accordingly. eg, move away from using BUSD as the main pair for trading, etc.

— CZ 🔶 Binance (@cz_binance) February 13, 2023

“Given the ongoing regulatory uncertainty in certain markets, we will be reviewing other projects in those jurisdictions to ensure our users are insulated from any undue harm.”

BNB drops below $300

At the time of writing, the price of BNB (BNB/USD) was around $291. Market sentiment is not helping the Binance coin price, with Bitcoin also in decline after retreating below $22,000 and Ethereum looking to revisit $1,400.

For BNB bulls, the struggle is to hold above $290, a key level for now given market reaction to latest crypto regulatory news has allowed bears to push below the psychologically important zone of $300.

The post BNB declines after Paxos ordered to stop BUSD issuance appeared first on Invezz.

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Binance Coin (BNB) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $562.5
Капитализация $0 Rank 99999
Цена в час новости $ 290.46 (-100%)

binance coin bnb hit highs 321 late

Источник: invezz.com

binance coin → Результатов: 126


Фото:

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Binance Coin упал до минимума с июня 2022 года

Binance Coin (BNB) теряет в стоимости на протяжении последних нескольких месяцев. Судебные иски против биржи Binance и ее основателя Чанпэна Чжао сильно подорвали привлекательность цифровой валюты.

2023-8-23 00:08


Binance Coin подешевел за неделю более чем на 25%

За минувшие сутки Binance Coin (BNB) укрепился примерно на 8% до $248. Тем не менее с 5 про 12 июня стоимость криптовалюты упала более чем на 25%. Основной причиной такого обвала стал судебный процесс против Binance Holding Ltd, запущенный Комиссией по ценным бумагам и биржам (SEC).

2023-6-17 12:11


Binance Coin подешевел за неделю более чем на 25%

За минувшие сутки Binance Coin (BNB) укрепился примерно на 8% до $248. Тем не менее с 5 про 12 июня стоимость криптовалюты упала более чем на 25%. Основной причиной такого обвала стал судебный процесс против Binance Holding Ltd, запущенный Комиссией по ценным бумагам и биржам (SEC).

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Технические индикаторы указывают на скорый рост Binance Coin

Курс Binance Coin (BNB) игнорирует судебный иск CFTC против криптобиржи Binance и пытается нащупать поддержку, чтобы запустить мощное ралли. Binance решили засудить 27 марта стало известно, что крупнейшая в мире криптовалютная биржа Binance Holdings Ltd.

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