Coinbase Officially Suspends Binance USD Stablecoin Trading
Coinbase CEO Brian Armstrong previously said the decision was made due to liquidity concerns.
Mar 13, 2023 at 4:16 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/EWGHDZP7GRG3PNDHBRGMOTONOI.jpg)
Coinbase CEO Brian Armstrong (CoinDesk)
Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.
Cryptocurrency exchange Coinbase (COIN) has officially suspended trading for the Binance USD (BUSD) stablecoin, according to a tweet on Monday.
The exchange announced its intention to delist BUSD in February with Coinbase CEO Brian Armstrong citing liquidity concerns.
The decision came after Paxos, the company that issues BUSD, stopped minting the stablecoin as a result of regulatory action by the New York Department of Financial Services and, reportedly, the federal Securities and Exchange Commission.
Users holding BUSD will still be able to withdraw their assets at any time, Coinbase's announcement said.
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Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.
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Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.
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