The market cap of Binance USD (BUSD) has dropped below $10 billion after it was delisted by the largest US cryptocurrency exchange, Coinbase.
Market cap on March 2 for the first time since June 2021, according to Coinecko data 10 billion for the time being the falling BUDS of the dollar 9.17 billion dollar market value.
In addition, by taking precautions against Coinbase’s liquidity problems and increasing the listing standards of the exchange did not meet delisting BUSD on the grounds that its market value 10 billion dollars was instrumental in its decline.
Experts interpret the decrease in demand for BUSD due to pressure from US regulators in recent days.
Paxos last month New York Department of Financial Services (NYDFS) BUSD within the scope of the order from production will be stopped he had said. Company, operational processes He stated that he would continue to manage but would not issue new BUSD.
on the other hand The US Securities and Exchange Commission (SEC) of BUSD securities arguing that it has Paxos He said he was preparing to sue.