“Essentially, by halting issuance of BUSD, there is no way for the stablecoin to grow. BUSD trading pairs will still be supported by Binance, but traders will gradually start to migrate to other stablecoins, which could be causing the discount on BUSD,” Kaiko’s research director, Clara Medalie, told CryptoX.
BUSD Depegs From Rival Stablecoin Tether After New York Regulator Tells Paxos to Stop Minting New Tokens
