It was alleged that after the New York Department of Financial Services (NYDFS) ordered Paxos not to print new BUSD and the BUSD would face the SEC.
Meanwhile, we saw hard sales in BUSD, which lost its fix to 1 dollar. In the statement made by Paxos, it was stated that the order of NYDFS will be followed and the issuance of new BUSD has stopped, and it is stated that all BUSD is supported at a ratio of 1:1.
After these clarifications, BUSD redemptions were successfully met by Paxos. After realizing that Paxos had no liquidity problem, BUSD started to rise again towards $1.
As of our news hour, BUSD continues to be traded at 0.9997 levels.
BUSD continues to be traded at $1 on Paxos. Minor differences in exchanges should not qualify as depegs as they relate to movements in the orders and trading books.
Binance CEO Cz, in an interview he attended, stated that BUSD is not issued by them and that they have an agreement with Paxos to use the Binance brand.
Paxos has seen nearly $700 million in BUSD sales and exits as of Monday.
During the breakout from BUSD, Bitcoin fell as low as $21350. As of our news hour, BTC price is $ 22170
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