BUSD

<ul><li>Binance USD (BUSD) trading will be suspended on four Coinbase platforms.</li><li>The market cap of the stablecoin Binance USD (BUSD) declined 2.06% in the last 24h.</li></ul>Crypto exchange Coinbase will disable the trading of Paxos-issued stablecoin Binance USD (BUSD) from March 13 around 12 PM ET. The exchange officially announced the delisting of Paxos-issued stablecoin on Monday <a href="https://twitter.com/CoinbaseAssets/status/1630236377622228994" rel="noopener noreferrer nofollow">on Twitter.</a>All BUSD-related trading will remain suspended for the exchange’s four major platforms – Coinbase.com, Coinbase Pro, Coinbase Exchange, and Coinbase Prime.After “internal monitoring and review processes,” Coinbase pointed out the stablecoin BUSD’s inability to meet the exchange’s listing standards as the reason for suspending its trading. Binance USD will remain delisted but there is no pause to its withdrawals by the users.Affirming this, Coinbase stated:<blockquote>“Your BUSD funds will remain accessible to you, and you will continue to have the ability to withdraw your funds at any time.”</blockquote>The regulation scrutiny pushed BUSD to lead a turbulent phase in the crypto market. Its New York-based creator and issuer Paxos halted the minting and issuance of new BUSD tokens on February 13. This decision along with mass coin burning eventually pulled the third-largest stablecoin from the <a href="https://thenewscrypto.com/busd-stablecoin-out-of-the-top-10-crypto-list-in-terms-of-market-cap/" rel="noopener noreferrer nofollow">market cap-based top 10 cryptocurrencies</a>.At press time, <a href="https://thenewscrypto.com/tag/busd/" rel="noopener noreferrer nofollow">Binance USD</a> (BUSD) registered a 2.98% drop in its market cap to a value of around $10.63 billion. According to <a href="https://coinmarketcap.com/currencies/binance-usd/" rel="noopener noreferrer nofollow">CoinMarketCap</a>, the stablecoin’s 24-hour rose by nearly 29%.

Coinbase Will Delist Paxos-Issued Stablecoin Binance USD (BUSD)

TheNewsCrypto

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