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Busd

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cryptocurrency2 years ago

DAI overtakes BUSD in stablecoin market capitalization amidst regulatory challenges.

Binance USD (BUSD) stablecoin has fallen to the fourth position in market capitalization among stablecoins after a dip of over $1 billion in the past 30 days. BUSD's market cap stands at $4.30 billion, down 29% from $5.54 billion on May 18. The decline in BUSD market cap parallels major developments surrounding Binance following FTX's dramatic collapse in November 2022. Tether's USDT, on the other hand, is gaining traction with a market dominance of 65.89% in May, up from 47.04% a year ago.

via Cointelegraph|
#binance#busd#cryptocurrency
cryptocurrency2 years ago

DAI overtakes BUSD as third-largest stablecoin amidst regulatory challenges.

Dai, the stablecoin issued by MakerDAO, has surpassed Binance USD (BUSD) to become the third-largest stablecoin in the world, with a market cap of around $4.39 billion, while BUSD clocks in at $4.3 billion. Binance, the world’s largest crypto exchange platform by volume, is facing mounting legal issues and regulatory setbacks, including a lawsuit by the SEC for allegedly selling unregistered securities. Meanwhile, MakerDAO has voted to raise the savings rate of DAI from 1% to 3.49% starting June 19th.

via The Daily Hodl|
#binance#busd#cryptocurrency
cryptocurrency2 years ago

Shiba Inu (SHIB) Surges in Market Cap and Volume, Lead Dev Calls for Action.

Shiba Inu's market cap has surpassed that of Binance USD stablecoin, reaching $6.81 billion, while BUSD's market cap plunged to $6.68 billion. The rise in SHIB's market cap is due to the recent milestones for the community, including the launch of its layer-2 network Shibarium and increased SHIB burn rate. Meanwhile, BUSD's supply has declined by roughly $10 billion since Paxos announced it would stop minting new tokens, leading to its delisting by Coinbase and loss of special privileges by Binance.

via BeInCrypto|
#busd#cryptocurrency#market-cap
cryptocurrency2 years ago

Binance's BUSD Stablecoin Outflows Spike Amid CFTC Lawsuit

Binance USD (BUSD), a stablecoin pegged to the U.S. dollar, experienced over $500 million in outflows in the 24 hours since a U.S. lawsuit was filed against Binance and CEO Changpeng Zhao. However, the impact on BUSD was relatively soft compared to the February crackdown on New York-based BUSD issuer Paxos. Some analysts pointed to Binance's decision to shift towards other stablecoins as a key reason behind the resilience of BUSD. The Commodity Futures Trading Commission (CFTC) sued Binance and its CEO on allegations the company knowingly offered unregistered crypto derivatives products in the U.S. against federal law.

via CoinDesk|
#binance#busd#cftc-lawsuit