Coinbase to Suspend Binance USD (BUSD) Trading

Coinbase has recently announced in one of their recent tweets that the exchange is planning to suspend the trading of Binance USD (BUSD). The exchange mentioned that trading will be suspended on March 13, 2023, at or around 12:00 p.m. EST.

The exact reason for the delisting has not been mentioned. However, Coinbase stated that they regularly monitored the assets on the exchange to ensure they met the listing standards.

Also read: Shiba Inu Burn Rate Spikes by 2300%, 82 Million SHIB Burned

Details from the tweet revealed that trading will be suspended on Coinbase.com for both simple and advanced trades, Coinbase Pro, Coinbase Exchange, and Prime. However, the exchange made it clear that the BUSD funds will be accessible and can be withdrawn at any time.

Source: Binance

Also read: Top 3 Cryptocurrencies to Watch This Week: VET, ETH, LINK

Binance and BUSD are going through a tough time due to increased SEC scrutiny of stablecoin issuer Paxos. Paxos was asked to stop issuing BUSD, and the stablecoin started slipping away from its peg. However, at press time, the BUSD has regained its peg. There has also been a drop in the market cap for BUSD recently due to ongoing issues.

  • binance
  • BUSD
  • COINBASE

Comments

Post a Comment

Popular posts from this blog

Quant Loses Value As It Meets Rejection At $125

Image
Mar 05, 2023 at 09:14 // Price Author Coin Idol The price of Quant (QNT) has resumed its downtrend after falling below the moving average lines and the support level of $130. Quant long-term price forecast: bearish Buyers have consistently supported the $130 price level since February 9. The altcoin recorded an uptrend to a high of $147 on February 15, but was rejected. Buyers were unable to keep the price above $150, which led to the decline. Selling pressure increased once the price fell below the moving average lines. However, the price signal suggests that s
Read more

Bloomberg: Fnality Gains $95M Funding From Goldman Sachs and BNP

Fnality has raised £77.7 million ($95 million) in its Series B financing round, according to Bloomberg. It seeks to provide a new payment system that facilitates a tokenized, peer-to-peer market. The firm is waiting for the Bank of England’s go-ahead to begin its operations. Fnality International, a blockchain-based wholesale payment system headquartered in London, has raised £77.7 million ($95 million) in its Series B financing round, according to Bloomberg. The funding phase was reportedly spearheaded by blue-chip financial firms Goldman Sachs and BNP Paribas. According to a statement by Fnality CEO Rhomaios Ram, the funding includes other prominent financial institutions such as Depository Trust & Clearing Corporation, Wisdom Tree Inc., Nomura Holdings Inc., and Euroclear. Though under development, this firm seeks to provide a new payment system that converges traditional and digital finance by facilitating a tokenized, peer-to-peer market. Concurr
Read more

Ethereum Price Drops 8%: What’s Next for the Altcoin Giant?

Image
Ethereum price started a major decline from the $3,500 resistance zone. ETH is down over 8% and might continue to decline toward the $3,120 support. Ethereum is gaining bearish pace from the $3,500 resistance zone. The price is trading below $3,400 and the 100-hourly Simple Moving Average. There was a break below a key declining channel with support at $3,380 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down toward the $3,120 support zone. Ethereum Price Dives Below $3,350 Ethereum price failed to start a fresh increase above the $3,500 resistance zone. ETH started a fresh decline and traded below the $3,400 support zone. It declined by over 8% more than Bitcoin. There was a break below a key declining channel with support at $3,380 on the hourly chart of ETH/USD. The pair even declined below the $3,200 level and tested $3,180. A low is formed near $3,183 and the price is showing signs of more losses.
Read more