UBIT

Coin

<ul class="news-points"> 
 <li>Binance will withdraw support for its stablecoin BUSD in the coming years.</li> 
 <li>The exchange cited Paxos’ decision to end redemption by February 2024.</li> 
 <li>Since last February, BUSD’s valuation lost more than $13 billion.</li> 
</ul> 
The <a href="https://coinedition.com/binance-exchange-review/" rel="noopener noreferrer nofollow">largest crypto exchange, Binance</a>, may ultimately withdraw support for its stablecoin BUSD in the coming years. According to crypto market participants on X, the exchange has revealed its intention to cease backing BUSD from 2024. 
In a recent tweet, Nu Brave, a prominent crypto influencer on X, shared that Binance sent a pop-up notification to its users. According to the tweet’s screenshot, Binance will gradually cease supporting BUSD until 2024. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 FYI: Binance will stop BUSD in 2024<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1fa99.png" alt="🪙" class="wp-smiley" style="height: 1em; max-height: 1em;"> According to an official announcement on crypto exchange Binance’s app, the exchange pops up a notification for users that they will stop supporting BUSD in 2024. This is an elignment with Paxos phase out for purchasing BUSD by February… <a href="https://t.co/XiRPy71b3p" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/XiRPy71b3p</a>— Nu Brave (@NuBraveIN) <a href="https://twitter.com/NuBraveIN/status/1696695457412788395?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 30, 2023</a> 
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Furthermore, the pop-up notification stated that the decision concerned BUSD’s <a href="https://coinedition.com/busd-issuer-paxos-faces-sec-lawsuit-over-binance-stablecoin/" rel="noopener noreferrer nofollow">embattled issuer</a>, Paxos Trust Company. In particular, it noted that Paxos wil… 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/binance-urges-users-to-convert-busd-holdings-as-support-ends-in-2024/">Binance Urges Users to Convert BUSD Holdings as Support Ends in 2024</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

Binance Urges Users to Convert BUSD Holdings as Support Ends in 2024

Coin Edition

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