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Market Cap for Binance Stablecoin BUSD Plummets 43% in 30 Days

On February 13, Paxos Trust, the stablecoin’s operator, announced that it would stop minting the Binance-branded stablecoin BUSD. The move followed more news that the SEC intended to sue Paxos for violating investor protection laws.

The crackdowns and delistings have since seen investors flee BUSD, leading to the asset’s market plummeting from roughly $16 billion on February 13 to roughly $9 billion today, per CoinGecko.

The drop marks a 43% loss.

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