BUSD
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The US House of Representatives proposed legislation on stable currency: What does it mean for the industry?
According to reports, Republicans in the US House of Representatives have proposed a new draft of stable currency legislation that will deprive the agency of jurisdiction over the
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USDT Active Addresses Reach a 4-Month Low
According to reports, the number of active USDT addresses has just reached 4601.655 in the past hour (7d MA), a 4-month low.
The number of active USDT addresses hit a 4-month low
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The Decline of USDC, BUSD and GUSD: What Does it Mean for Crypto Investors?
According to reports, The Block data shows that the supply of USDCs on Ethereum has dropped by over $10 billion compared to the beginning of the year, and is currently around $30.8
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Why the Market Value of BUSD Has Fallen By Over 30% in the Past Month: A Closer Look
According to reports, according to the latest data from Coinsecko, the market value of the US dollar stable currency BUSD issued by Paxos has fallen below $7 billion, compared to $
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The Rise and Fall of Stable Currencies: USDT vs. USDC vs. BUSD
According to reports, according to the latest data from blockchain analysis company Glassnode, the supply of USDT has continued to rise since the FTX crash (reaching over $80 billi
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The Rise of USDT in the Cryptocurrency Market
According to reports, data shows that the circulating market value of USDT has exceeded $80 billion for the first time since May 2022, and has risen by $15 billion so far in 2023.
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An Overview of the First Quarter of 2023 Encryption Market Recovery
According to reports, according to data released by the encryption analysis company Santiment on social media, as the encryption market recovers in the first quarter of 2023, the c
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Understanding the On-Chain Investment Portfolio of Coin An
According to reports, data from the blockchain analysis company Nansen shows that the on-chain investment portfolio of Coin An is currently $64 billion. USDT, BTC, ETH, BUSD, and B
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The Dominance of USDT as Stablecoin in the Cryptocurrency Market
According to reports, according to the latest data from blockchain analysis company Glassnode, as USDC, DAI, and BUSD continue to hit new lows, as well as the continuous increase i
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Paxos Successfully Processes $7.9 Billion BUSD Redemptions without Incident
According to reports, Paxos disclosed on its official website that after announcing on February 13, 2023 that it would stop casting new BUSD tokens and terminate its relationship with Coin Security, the platform has processed over $7.9 billion in BUSD redemptions in the past 32 days, accounting for nearly 50% of the current BUSD, without causing any losses to customers or causing market chaos, and has managed all customer assets in accordance with the New York State Bank Law to avoid bankruptcy. Paxos stated that currently all BUSDs are hosted by NYDFS Trust and fully supported by USD cash and cash equivalents at a 1:1 ratio. Paxos will provide support for the circulation of BUSDs for at least one year, and all other Paxos products will not be affected by BUSD redemptions. Paxos: Process over $7.9 billion in BUSD redemptions within 32 days, and will provide support for at least another year Analysis based on this information:Paxos, a fintech company…
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Coinbase Disables Binance USD Transaction but Allows Withdrawals
According to the report, Coinbase Assets posted on social media that although Coinbase has disabled the Binance USD (BUSD) transaction, the user’s BUSD funds can still be used, and the user can withdraw funds at any time. Coinbase: BUSD can still be extracted at any time Analysis based on this information:Yesterday, Coinbase Assets, the trading arm of Coinbase cryptocurrency exchange, took to its social media accounts to inform its users that they had disabled Binance USD (BUSD) transactions. Despite the disablement, Coinbase assured its customers that their funds were safe and that they could still withdraw at any time. It is not yet clear why Coinbase has disabled BUSD transactions, considering that this stablecoin is one of the most popular among traders due to its low volatility. However, analysts have speculated that it may have to do with the recent criticism that BUSD has garnered due to its association with Binance, one of the largest exchanges in the cryptocurrency space….
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Binance Industry Recovery Fund Transfers All Remaining Assets to Binance Trading Platform
On March 13, according to WhaleAlert monitoring, the remaining assets of the Binance Industry Recovery Fund, 985 million BUSDs, have all been transferred to the Binance trading platform. More than 985 million BUSDs have been transferred to the Binance trading platform Analysis based on this information:On March 13, the WhaleAlert monitoring system reported that the Binance Industry Recovery Fund had transferred all of its remaining assets to the Binance trading platform. The total value of these assets was 985 million BUSDs, which is equivalent to roughly $1 billion USD. This announcement is significant for several reasons. First and foremost, it confirms that the Binance Industry Recovery Fund has effectively fulfilled its mission to support projects that have suffered losses due to unforeseen events. The fund was created in July 2019 with an initial investment of $10 million USD and has since made strategic investments into several projects that have experienced financial difficulties. By transferring its remaining assets to the Binance…
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Binance Founder CZ Announces Shift of Industrial Recovery Funds from BUSD to Native Cryptocurrency
On March 13, CZ, the founder of Binance, said in a message on social media that, considering the changes in stable currency and bank, Binance will convert the remaining US $1 billion of industrial recovery plan funds from BUSD to native cryptocurrency, including BTC, BNB and ETH. Some capital flows will occur on the chain to ensure transparency. CZ: US $1 billion “Industry Recovery Fund” will be converted from BUSD to BTC, BNB and ETH Analysis based on this information:Binance Founder CZ recently announced via social media that the company will be transitioning the remaining US $1 billion of their industrial recovery funds from BUSD to native cryptocurrency. This decision was made in light of changes occurring in the stable currency and banking industries. The move signifies Binance’s desire to pivot towards digital currencies that are native to their platform, namely BTC, BNB, and ETH. By doing this, they hope to maintain more control over the funds and take advantage…
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BUSD Stablecoin: A Safe Haven Amidst Market Volatility?
On March 13, CoinGecko data showed that the US dollar stable currency BUSD issued by Paxos had a short-term premium, once rising to the peak of US $1.03, and now it has dropped slightly to US $1.01, with a 24-hour increase of 1.5%, and the market value has risen to US $8.44 billion. BUSD’s short-term premium rose to $1.03 Analysis based on this information:The cryptocurrency market has undergone significant fluctuations in recent times due to the global economic crisis caused by the COVID-19 pandemic. As investors look for safe havens in uncertain markets, stablecoins have emerged as a viable option. Stablecoins are digital currencies whose value is pegged to traditional currencies, such as the US dollar, Euro or Japanese Yen, with the aim of reducing price volatility. One such stablecoin is the US dollar-backed BUSD, issued by the blockchain-based firm Paxos. According to CoinGecko data on March 13, BUSD experienced a short-term premium, rising to $1.03, with a 24-hour increase…
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Binance Offers New Spot Trading Pairs and Halts BUSD Automatic Exchange Service
On March 11, according to the latest announcement, Binance announced that it would open BNB/TUSD, BTC/TUSD, ETH/TUSD, TUSD/USDT, USDC/USDT and USDP/USDT spot tr
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Binance Suspends Automatic Conversion from USDC to BUSD due to Market Situation
On March 11, Binance said in a message on social media that due to the current market situation, the massive inflow of USDC assets increased the burden of autom
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Binance Temporarily Closes USDC Automatic Conversion BUSD Function
On March 11, according to the Binance platform, the USDC automatic conversion BUSD function has been temporarily closed. According to the asset certificate of B
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Aave DAO Members Overwhelmingly Support Cancelling Binance’s BUSD Loan
It is reported that members of the Aave Decentralized Autonomous Organization (DAO) supported the cancellation of the loan of Binance\’s BUSD stable currency wit
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Coinage Charity enhances donation process through Coinage Payment function
It is reported that Coinage Charity has increased its support for Coinage Payment. Users can now make donations to Coinage Charity more smoothly through the pay
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Paxos Breaks Ties with Silvergate Bank: Ensuring Customer Protection
It is reported that Paxos, the issuer of the US dollar stable currency BUSD, released a statement on Silvergate Bank on social media, which said that Paxos had
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Binance Founder CZ Considers Other Stable Currencies Apart from BUSD
On March 8, CZ, the founder of Binance, said in the AMA that Binance had not obtained any additional benefits from BUSD, and was currently considering stable c…
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Aave Community Voted on “BUSD Off-Shelf Plan” with Overwhelming Majority
On March 8, the Aave community\’s ARFC proposal on \”BUSD Off-shelf Plan\” has been voted (ARFC proposal is usually considered as \”temperature check\”), and has re…
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Celer Network’s cBridge and Celer IM Launches Cross-Chain Bridge with BNB, BUSD, MATIC, and AVAX Tokens on ConenSys zkEVM Test Network
It is reported that the Celer Network tweeted that the cBridge and Celer inter-chain messaging technology (Celer IM) now supports the ConenSys zkEVM test netwo…
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Paxos Treasury Destroys Nearly 95 Million BUSD
According to the report, Whale Alert data showed that Paxos Treasury destroyed 95826598 BUSD.
Paxos Treasury destroyed 95826598 BUSD
Interpretatio…
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BUSD Ban Leads Coin Security to Turn to TUSD for Stable Currency
It is reported that the New York Financial Services Department (NYDFS)\’s BUSD casting ban forced Coin to find other stable currency alternative solutions to me…
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Paxos Treasury destroyed 129756185 BUSD
According to reports, Whale Alert data showed that Paxos Treasury destroyed 129756185 BUSD.
Paxos Treasury destroyed 129756185 BUSD
I. Introduction- Brief overview of the Busd stab