Binance, the world’s largest cryptocurrency exchange, announced that 2 billion Binance USD (BUSD) will be removed from circulation on BNB Chain.
From Binance’s official social media account in sharingIt was stated that 2 billion BUSD will be burned. The team will be burned on BNB Chain 2 billion BUSD equal amount of Ethereum (ETH) stated that it will be released on its network.
The team detailed the burning process in the following terms:
Binance will burn $2 billion worth of BUSD on BNB Chain later today. The same amount of BUSD on the Ethereum network will then be released.
Finally BUSD issuer PaxosStablecoin’s statement that it will terminate BUSD transactions under pressure from US regulatory agencies dollar stability (depeg) had caused him to lose. CoinGecko According to BUSD data, at the time of writing the news from $0.998 is being traded.
On the other hand, according to Etherscan data, 16.1 billion the one which… BUSD supply to 12.3 billion declined.