https://www.coindesk.com/business/2023/03/01/coinbase-ceo-armstrong-we-delisted-busd-due-to-liquidity-concerns/
Coinbase CEO Brian Armstrong said the exchange decided to suspend trading of Binance USD (BUSD) because the company had concerns about its liquidity.
The crypto exchange had previously said the reason for delisting BUSD was that based on its own internal monitoring and review processes the stablecoin no longer met its listing standards. Coinbase didn’t supply any additional details.
On Wednesday morning, Armstrong appeared on Bloomberg TV and gave a more detailed explanation for the move.
“The reason we did that was that Paxos, the issuer of BUSD, had been ordered to stop minting it, so we were concerned about liquidity issues for our customers,” Armstrong said.
The New York Department of Financial Services (NYDFS) recently ordered Paxos to stop minting the Binance-branded BUSD due to unresolved issues related to Paxos’ oversight of its relationship with Binance. The Securities and Exchange Commission was also reportedly planning to sue Paxos for selling BUSD as an unregistered security.
BG, unlicensed by VARA, potentially breached regulations by issuing and marketing ISLM tokens in Dubai without approval, requiring immediate cessation of activities and obtaining necessary VARA licenses.
AlexJapan's revised tax laws streamline corporate crypto taxation, aligning with investor norms and aiming to spark domestic entrepreneurial growth.
Hui XinPolygon founder Sandeep Nailwal candidly reflects on 2023's challenges, embracing an underdog status amid fluctuating market performance.
AlexXai Network, collaborating with Arbitrum's Offchain Labs, is set to launch a token airdrop, promising to reshape crypto gaming through innovative tokenomics and user-focused enhancements.
KikyoThe February trial will address Craig Wright's claim to be Bitcoin's creator, amidst disputes over new evidence and copyright allegations.
AlexSEC sets December 29 deadline for Bitcoin ETF proposals, with a decision expected on January 10, 2024.
BrianShiba Inu's burn rate spikes 5000%, indicating active market dynamics and investor interest despite inherent risks.
KikyoAnodos is innovating in blockchain with user-friendly Web3 applications and strong XRPL integration.
AlexBlockchain Loans Double to $582 Million Amid Rising Interest Rates
KikyoHong Kong, embracing a crypto-friendly stance, may pioneer in launching Bitcoin spot ETFs in Asia, influenced by the U.S. and backed by a robust regulatory framework.
Alex