Binance is moving to a “semi-automated” process for managing the reserves of tokens it issues after years in which reserves were mixed with customer funds and at least one major stablecoin, Binance-peg BUSD, was not always fully backed, according to a Bloomberg report.

Binance, the world’s largest cryptocurrency exchange by trading volume, will “destroy” $2 billion BUSD which idle on the BNB Smart Chain (BSC), per a tweet on Feb. 22.

Binance To Burn $2B Idle BUSD on Feb. 22; Reddit Avatar NFTs’ Market Cap Exceeds $35 Million; Floki Inu New Partnership Exposes Floki To 140M Crypto Users

Binance Partners with Ingenico to Enable Shiba Inu and Crypto Payments in France Stores.

Leading crypto exchange Binance announced it would burn $2 billion worth of idle Binance USD (BUSD) on BNB Chain “later today” on Feb. 22 at 12:07 UTC.

Binance, the biggest CEX by trading volume globally, was one of the first to recognize the colossal challenge the industry faces.

The Terra Luna Classic community’s main objective in February was to focus on returning the Binance LUNC burn mechanism. After Proposal 11310 by Terra Classic core developer Edward Kim was unanimously passed in January, the community moves swiftly to pass another key proposal.

Tencent Cloud announces to actively support Web3 developments and contribute to the sustainable development of the global Web3 community.

Crypto exchange Binance and France-based payments firm Ingenico announce a strategic partnership to ease crypto payments in France.

All proposals addressing Binance concerns have crossed the pass threshold.