Coinbase suspending BUSD trading

Crypto speech Coinbase volition suspend Binance USD (BUSD) trading starting March 13 astatine noon Eastern Time.

The speech announced the quality via its authoritative Twitter account, wherever it stated:

“We regularly show the assets connected our speech to guarantee they conscionable our listing standards. Based connected our astir caller reviews, Coinbase volition suspend trading for Binance USD (BUSD) connected March 13, 2023, connected oregon astir 12pm ET.”

The suspension volition see Coinbase.com, Coinbase Pro, Coinbase Exchange, and Coinbase Prime platforms. Users tin inactive entree and retreat their BUSD holdings aft Mar. 13.

BUSD debacle

The Securities and Exchange Commission (SEC) requested Paxos to halt further BUSD accumulation connected Feb. 13. The SEC claimed that Paxos violated the securities and capitalist extortion laws.

Paxos responded to the SEC by announcing that it volition halt BUSD mining starting Feb. 21.

Between Feb. 13 and Feb. 17, Binance lost 16% of its BUSD holdings. In the past 7 days, Binance burned $2 cardinal of idle BUSD connected the BNB Chain.

The station Coinbase suspending BUSD trading appeared archetypal connected CryptoSlate.