Funds Are SAFU and Binance Will Continue To Support BUSD, CZ Says
CZ highlighted on twitter that BUSD is issued and redeemed by Paxos and funds are SAFU!
Crypto Evening Briefing: Paxos To Stop Issuing Dollar-Pegged Binance Token; CZ Highlighted BUSD “Funds Are SAFU”
BUSD turned volatile in the wake of regulatory action against its issuer Paxos Trust Co. The decline in BUSD/USDT pair on Binance suggests some traders are moving money into tether.
Existing Tokens Remain Fully-Backed and Redeemable Through Paxos Trust Company Through at Least February 2024
Paxos, the leading regulated blockchain and tokenization infrastructure platform, announced it will end its relationship with Binance for the branded stablecoin BUSD.
