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Crypto Evening Briefing: Paxos To Stop Issuing Dollar-Pegged Binance Token; CZ Highlighted BUSD “Funds Are SAFU”

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Funds Are SAFU and Binance Will Continue To Support BUSD, CZ Says

CZ highlighted on twitter that BUSD is issued and redeemed by Paxos and funds are SAFU. Binance do foresee users migrating to other stablecoins over time. And they will make product adjustments accordingly. eg, move away from using BUSD as the main pair for trading, etc.

Paxos Will Halt Minting New BUSD Tokens

Paxos, the leading regulated blockchain and tokenization infrastructure platform, announced it will end its relationship with Binance for the branded stablecoin BUSD. BUSD will remain fully supported by Paxos and redeemable to onboarded customers through at least February 2024.

BUSD Depegs From Rival Stablecoin Tether After US Regulator Tells Paxos to Stop Minting New Tokens

Binance's dollar-pegged stablecoin BUSD turned volatile in the wake of regulatory action against its issuer Paxos Trust Co. The decline in BUSD/USDT pair on Binance suggests some traders are moving money into tether.

DBS Plans To Apply for License To Offer Crypto in HK

DBS Group Holdings Ltd plans to apply for a license to allow it to offer crypto to Hong Kong customers as the Chinese territory pushes to become a hub for digital assets.

Crypto Payments Firm Wirex and Visa Expand Partnership to 40 Countries

Cryptocurrency payments app Wirex has signed a long-term global partnership with Visa (V) to expand its footprint in Asia-Pacific (APAC) and the U.K., according to an announcement on Monday. With this expansion the London-based Wirex, which has over 5 million customers, will now be able to directly issue crypto-enabled debit and prepaid cards to over 40 countries.

Market Watch

As of press time, according to Cointime data:

BTC 's live price is $21,655.31 USD, dropped by 0.71% in the last 24 hours;

ETH’s live price is $1,485.36 USD, dropped by 2.64% in the last 24 hours;

BNB’s live price is $292.25 USD, dropped by 5.22% in the last 24 hours;

BUSD’s live price is $0.9994 USD, dropped by 0.03% in the last 24 hours;

XRP's live price is $0.3675 USD, dropped by 3.68% in the last 24 hours.

Fundraising News

Romanian Social Media App TOKHIT Secures $100 Mln From Investment Fund

TOKHIT, a gamified social app developed by a Romanian startup of the same name, said on Thursday that it has secured $100 million (93 million euro) in financing from an international investment fund. TOKHIT is powered by blockchain and NFT technology, offering a space where content creators, crypto investors and NFT enthusiasts can monetise their social activity.

Bitcoin Bitcoin $62,070.81
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