The cryptocurrency exchange Coinbase announced the termination of trading with the Binance USD (BUSD) stablecoin.
The platform will stop processing transactions with this digital asset from March 13, 2023, the press center of the American company reported.
The administration clarified that BUSD does not meet the Coinbase listing standards.
The press service stressed:
“We regularly analyze assets on our exchange to make sure they meet our listing standards. Taking into account the latest news, Coinbase has decided to stop trading Binance USD (BUSD) from March 13, 2023.”
Investors began withdrawing funds from BUSD in early February after Paxos, under pressure from the US authorities, announced the termination of the issue of this stablecoin. Its capitalization has decreased to $10.74 billion, but BUSD still ranks third in the ranking of digital currencies with fiat collateral after USDT and USDC.
Altcoin Binance Coin (BNB) also suffers losses under the pressure of negative news. Over the week, the BNB rate fell by 3.58% to $302.
The capitalization of the cryptocurrency on the night of Tuesday, February 28, decreased to $47.83 billion.