Paxos, a blockchain infrastructure platform has scored a major relief after the SEC’s investigation cleared it of any wrongdoing and concluded that BUSD, a Binance-based stablecoin, is not a security. As per the official press release, the regulator sent a notice dated July 9, 2024, stating that it won’t pursue against the firm in the […]
BUSD
Binance Battle: Paradigm’s Bold Defense Against SEC’s Overreach
Paradigm, a prominent investment firm, has submitted an amicus brief in favor of Binance, in which they critique the U.S. Securities and Exchange Commission (SEC) for overstepping its regulatory authority. As outlined in documents submitted to the SEC, Paradigm’s position argues that assets like gold, silver, and art can appreciate in value over time, but […]
Ethereum And BUSD Witness Historic Movement Of Dormant Coins Amidst Crypto Frenzy
Ethereum (ETH) and Binance USD (BUSD) have seen a significant movement of dormant coins this week, According to a recent tweet from Santiment, a leading on-chain analytics firm. The movement indicates that the average age of these tokens in wallets has sharply decreased after a prolonged period of inactivity. Santiment’s report reveals that BUSD’s average […]
BUSD Support to Halt on Binance
In a significant development in the crypto world, Binance has officially announced its plans to gradually discontinue support for Binance USD (BUSD) by February 2024. The move aligns with Paxos’ decision to halt the minting of new BUSD, marking a pivotal shift in the stablecoin landscape. This strategic decision by Binance has raised eyebrows and […]
Tether’s Tightrope: Stablecoin Holders Stay Put Amidst Market Turmoil
In the ever-growing landscape of cryptocurrencies, a curious trend has caught the attention of analysts and investors alike. Santiment, a prominent analytics firm, recently tweeted about the behavior of active dolphin and shark wallets containing Tether and USDCoin, the two most popular stablecoins in the market. The firm observed a notable lack of conversion attempts […]
Bitcoin Ascends While Altcoins Struggles: CoinGecko’s Q2 2023 Analysis
The second quarter of 2023 has proven to be an eventful one for the crypto market, with Bitcoin emerging as a clear winner amidst a series of unfortunate events for altcoins. CoinGecko’s comprehensive 2023 Q2 Crypto Industry Report sheds light on the market landscape and highlights key developments within the crypto space. While Q1 was marked by […]
Crypto Market Structure: Volatility, Dominance, & Regulatory Challenges Of Stablecoins
In the ever-evolving landscape of cryptocurrencies, stablecoins have emerged as a significant force in the market. According to the latest report from Kaiko, stablecoins now account for a staggering 74% of all cryptocurrency trades on centralized exchanges (CEXs). This dominance is fueled by the popularity of Tether (USDT), which holds a massive 70% market share. […]
Ethereum (ETH) and Binance USD (BUSD) Face Regulators While Collateral Network (COLT) Decentralizes The Lending Industry
Last month, Ethereum (ETH) and Binance USD (BUSD) experienced the negative impact of financial regulators in crypto. While Binance USD (BUSD) lost about 43% of its market cap value, Ethereum (ETH) appeared unaffected after a decrease of 7.63%. Moreover, Collateral Network (COLT), a new decentralized crowdlending platform, is set to reward users with a 3500% […]
Binance Remains Resilient In The Face Of Regulatory Scrutiny: CryptoQuant Report
CryptoQuant, a leading on-chain data and analytics provider, has conducted an assessment of Binance’s net outflows and reserves of BTC, ETH, and stablecoins in three stress-test periods. The stress-test periods were December 2022, February 2023, and March 2023, which saw increasing regulatory scrutiny, Paxos’ BUSD announcement, and the CFTC lawsuit, respectively. Despite these challenges, Binance’s […]
USDC Market Cap Shrinks By Over 23% As Investors Flock To Tether
Market capitalization for Circle’s USDC decreased by approximately 23% from $43.4 billion on March 10 to $33.3 billion at present. BUSD has decreased by 52% from $16.1 billion on February 13 to $7.67 billion at this time. In the last 30 days, USDT has climbed by $9 billion. The declining market cap demonstrates how investors […]