BUSD market value falls below US$100 million
According to the latest data from Coingecko, the market value of BUSD has fallen below the $100 million mark and is currently around $99.386 million, a decrease of over 99.5% from its peak market value of nearly $23.5 billion in November 2022.
85 million BUSD transferred from unknown wallet to Paxos Treasury
According to Whale Alert monitoring, at around 17:49 Beijing time today, 85,000,000 BUSD were transferred from an unknown wallet to Paxos Treasury.
The market value of BUSD has fallen below the US$1 billion mark and is currently down to US$924 million.
After Paxos destroyed 65.06 million BUSD on the evening of January 5th, the market value of BUSD has fallen below the $1 billion mark. According to the latest data from Coingecko, it has now dropped to about $924 million, which is equivalent to the level before 2021.
Paxos destroyed 65.06 million BUSD about 10 minutes ago
According to Whale Alert monitoring, 65,060,031 BUSD were destroyed by Paxos about 10 minutes ago.
Binance has exchanged users’ BUSD token balances for FDUSD
Binance has announced that all eligible users' BUSD token balances have been exchanged for FDUSD tokens. Users can view their FDUSD tokens through distribution history or flash exchange history. Note: all eligible BUSD token balances in users' spot and funding accounts have been distributed at a ratio of 1 BUSD to 1 FDUSD.
A wallet withdrew 200 million BUSD from Binance and transferred 99.95 million FDUSD.
Monitoring data from The Data Nerd shows that in the past 24 hours, wallet 0xea8 has withdrawn a total of 200 million BUSD from Binance and then transferred 99.95 million FDUSD (received from First Digital Labs). In the past four months, this address has transferred a total of 781,813,500 FDUSD to Binance.
An address transferred 200 million BUSD from Binance and transferred nearly 100 million FDUSD
According to The Data Nerd monitoring, a certain address transferred 200 million BUSD from Binance and transferred nearly 100 million FDUSD, which was received from First Digital Labs.
100,000,000 BUSD transferred from Binance to unknown wallet
According to Whale Alert monitoring, at 12:19 Beijing time, 100,000,000 BUSD ($100,445,901) was transferred from Binance to an unknown wallet.
BUSD market value fell back to US$1.6 billion, becoming the fifth largest stablecoin
According to the latest data from Coingecko, TUSD, a stablecoin, has surpassed BUSD to become the fourth largest stablecoin in terms of market capitalization. At the time of writing, TUSD's market capitalization was $2,951,581,310, while BUSD's market capitalization was $1,665,750,361, ranking fifth in the stablecoin market capitalization.
Binance to Cease Support for BUSD Products Following Paxos' Halt on Minting New Coins
Binance, a major cryptocurrency exchange, has announced that it will stop supporting all Binance USD (BUSD) products from December 15th, following Paxos' decision to halt the minting of new coins. Users have been advised to withdraw or convert their existing BUSD on the exchange into other assets before December 15th, after which point Binance will disable withdrawals for BUSD. Existing balances will be automatically converted into First Digital USD (FDUSD) for certain users. This move is part of Binance's plan to gradually wind down services for its native stablecoin, which was suggested to be an unregistered security by the United States Securities and Exchange Commission in February.
