The CFTC alleged Binance offered unregistered crypto derivatives products and directed U.S. customers to evade compliance controls through the use of VPNs.
Blockchain data shows crypto exchange giant Binance has been relying increasingly on TUSD following a crackdown on its Binance USD stablecoin by U.S. regulators.
Changpeng Zhao said Binance will continue working with other stablecoin issuers, and that he’s skeptical about claims Circle raised alarm bells with regulators.
Binance has endured some $831 million of net outflows in the past 24 hours, Nansen data shows. Monday’s outflow is the largest in a day since November.
Tether’s USDT stablecoin will likely be a big winner as Paxos stops issuing Binance USD stablecoin after being sued by the top U.S. securities watchdog.
BUSD’s circulating supply fell to $15.4 billion on Wednesday, paring down $1 billion over the past week and $2 billion in a month, according to cryptocurrency price tracker CoinGecko.