Paxos will continue to support BUSD in circulation for at least one year.

Binance USD, the Paxos-issued stablecoin under the brand of the world’s largest crypto exchange by trading volume, fell to $9.5 billion market capitalization on Friday, data from CoinGecko shows.

Coinbase, has announced that it will suspend trading of Binance USD (BUSD) on March 13, 2023. The suspension will apply to Coinbase.com, Coinbase Pro, Coinbase Exchange, and Coinbase Prime.

Binance USD (BUSD) stablecoin trading volume dropped to its lowest point since Coinbase listed it in April 2022.

San Francisco-based cryptocurrency exchange Coinbase is kicking Binance USD (BUSD) off its platform. Coinbase cited failure to meet its listing standards as the rationale behind the decision to delist the Binance-branded dollar-pegged stablecoin.

Coinbase, the world’s second-largest cryptocurrency exchange by trading volume, said Monday it is suspending trade in the Binance USD (BUSD) as of March 13. The move comes after the U.S. regulator said earlier this month that it was investigating the stablecoin as a possible unregistered security. Coinbase manages token listings through its Digital Asset Listings Group, a committee reviewing assets that excludes its chief executive officer Brian Armstrong and board members, according to its website. (forkast)

As the Binance USD (BUSD) stablecoin faces regulatory scrutiny, the world’s largest crypto exchange Binance is now focusing on the TrueUSD (TUSD) stablecoin.

Binance USD’s (BUSD) supply shrank by 18.2% — roughly $2.27 billion — over the last seven days to $10.84 billion, according to CryptoSlate’s data.

Leading crypto exchange Binance announced it would burn $2 billion worth of idle Binance USD (BUSD) on BNB Chain “later today” on Feb. 22 at 12:07 UTC.

Paxos, a leading regulated blockchain and tokenization infrastructure platform, has responded to the U.S. Securities and Exchange Commission over its issuance of Binance USD “BUSD” stablecoin.