Binance CEO Distances Himself From BUSD Stablecoin as Regulators Act
CZ said Binance will continue working with other stablecoin issuers, and noted he’s skeptical about claims Circle raised alarm bells with regulators. Original Source
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Binance
Binance Hires Former Gemini-Exec as Chief Compliance Officer: Bloomberg
Perlman started in the role at Binance in January, having spent two and a half years as COO of Gemini and previously one year as CCO. Original Source
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BNB Token Slides Under $300, Binance USD Inflows Signal Bearish Signs
Paxos issues the Pax dollar (USDP) and Binance USD (BUSD) tokens, the latter is a Binance-branded stablecoin. Binance, on its part, told CryptoX on Monday: “BUSD is a stablecoin wholly owned and managed by Paxos. As a result, BUSD market cap will only decrease over time.” Source
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Binance withdrawals and BUSD redemptions surge post Paxos crackdown
Cryptocurrency exchange Binance has seen a surge of withdrawals over the last 24 hours as investors appear to be spooked over recent news of regulatory action against Paxos and its stablecoin Binance USD (BUSD). At the same time, the BUSD token has recorded significant redemptions, with 342 million BUSD burned
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Binance BNB Token Price Plunges, but Bitcoin BTC Price Holds Near $21.8K Amid US Regulatory Uproar
"If this is a Binance issue, we see further kind of regulatory scrutiny being imposed by the SEC, you do have that headline risk, and I think that's certainly what's weighing on crypto markets,” Tastycrypto Head of Digital Assets Ryan Grace told CryptoX TV. Source
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Binance Withdrawals Surge as Paxos-BUSD Drama Weighs on the Exchange
Binance has endured some $828 million of net outflows in the past 24 hours, Nansen data shows. Monday’s outflow is the largest in a day since November, surpassing the withdrawal surge in December amid fears about Binance’s reserves. Source
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Circle blew the whistle on Binance reserves to NYDFS: Report
New York State’s Department of Financial Services, or NYDFS, reportedly received a complaint from stablecoin issuer Circle regarding Binance’s reserves prior to its crackdown on BUSD.According to a Feb. 13 Bloomberg report, Circle alerted NYDFS in an autumn 2022 complaint that Binance’s reserves were insufficient to support its tokens, seemingly
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Binance CEO Warns of ‘Profound Impacts’ on Crypto Industry if BUSD Is Ruled as a Security – Altcoins Bitcoin News
Binance CEO Changpeng Zhao (CZ) has warned of “profound impacts” on the crypto industry if stablecoin Binance USD (BUSD) is ruled as a security. His warning followed an alleged lawsuit by the U.S. Securities and Exchange Commission (SEC) against Paxos, the issuer of Binance USD. Binance’s CEO on SEC Action Against
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Regulator NYDFS Says Paxos Didn’t Administer Binance USD in ‘Safe and Sound’ Manner: Reuters
Paxos "violated its obligation to conduct tailored, periodic risk assessments and due diligence refreshes of Binance and Paxos-issued BUSD customers to prevent bad actors from using the platform," a spokesman with the regulator told Reuters, saying the token wasn’t being administered in a “safe and sound” manner. Source
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Paxos ordered to Halt U.S. Dollar-Pegged Binance Stablecoin BUSDT- Has the SEC War on Crypto Begun? – Blockchain News, Opinion, TV and Jobs
By Marcus Sotiriou, Market Analyst at the publicly listed digital asset broker GlobalBlock (TSXV:BLOK). Bitcoin is currently testing $21,500, a key support level, whilst US regulators hone in on crypto
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