Binance Swaps BUSD Stablecoin From 'Recovery Fund' to Bitcoin, Ethereum, BNB

Binance to spend its BUSD stablecoin on scooping up Bitcoin, Ethereum, and its native BNB token, the firm's CEO said.

• 2023-03-13
• BUSD Industry Recovery Initiative Binance Binance CEO Chanpeng Zhao USDC Silicon Valley Bank Recovery Fund

Binance Will Convert $1B Worth of BUSD Stablecoin to Bitcoin, Ether, BNB, and Other Tokens

Binance tapped into its Industry Recovery Initiative funds to cover the move.

• 2023-03-13
• BUSD BNB Binance Binance USD Changpeng Zhao

Crypto Lobbying Needs a Reset: More FTC, less SEC

Of all the Securities and Exchange Commission’s actions against crypto entities that have stirred the industry’s ire, the agency’s recent move forcing New York-based Paxos to cease issuing its partner Binance’s BUSD stablecoin is the most deserving of an outcry. How, critics rightfully asked, can a token that’s explicitly designed not to fluctuate in price be considered a security?

• 2023-02-25
• BUSD SEC crypto community Paxos

Industry reacts: US cracks down on crypto, India calls for regulatory collaboration

The cryptocurrency industry this week reacted to the recent moves by U.S. authorities against Kraken and Paxos. Meanwhile, India has been calling for a collaborative approach to crypto regulations.

• 2023-02-17
• BUSD U.S. Securities and Exchange Commission SEC

Crypto exchange Binance hit by major outflows. Here’s why

Binance, the world's largest crypto exchange, is seeing significant outflows this week after its stablecoin partner Paxos was ordered to cease minting new BUSD tokens, a Binance-branded stablecoin.

• 2023-02-15
• BUSD crypto exchange Binance Patrick Hillmann

Binance and Crypto Markets Rattled as Paxos Ordered to Stop Issuing Exchange’s Stablecoin

Scrutiny on the issuer of the Binance USD stablecoin marks just the latest pressure on Binance's links to the U.S. financial system.

• 2023-02-13
• BUSD Paxos Binance

SEC to Sue Crypto Trust Co. Paxos Over Binance Stablecoin: WSJ

The U.S. Securities and Exchange Commission (SEC) intends to sue stablecoin issuer Paxos, which is behind the Pax Dollar and Binance USD tokens, over the latter. The news comes days after CoinDesk reported Paxos was under investigation by the New York Department of Financial Services.

• 2023-02-13
• BUSD Paxos SEC Binance-Peg BUSD