Since I used this stablecoin pretty frequently and really enjoyed everything about it, it has been a while since the Binance exchange chose to liquidate it. However, at the time, I was not really sure why. Are you able to respond to this?
How do you feel about the Busd token being phased out?
- Thread starter deucher
- Start date
The reason is simple: BUSD stopped being issued as Binance broke its agreement with Paxos trust when Paxos received an order to stop minting BUSD by a New York regulator, since the issuance of BUSD was under the company Paxos Trust, which is the same company that Paxgold, another gold-backed cryptocurrency, has. BUSD has since become very illiquid.
I use Binance but I never used BUSD, instead of BUSD, I was more comfortable using USDT. Since I never used it, I don't mind this being phased out. I did not know the reasons why it was being liquidated. Thanks @Riberet19 for the information.
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