- Binance will withdraw support for its stablecoin BUSD in the coming years.
- The exchange cited Paxos’ decision to end redemption by February 2024.
- Since last February, BUSD’s valuation lost more than $13 billion.
The largest crypto exchange, Binance, may ultimately withdraw support for its stablecoin BUSD in the coming years. According to crypto market participants on X, the exchange has revealed its intention to cease backing BUSD from 2024.
In a recent tweet, Nu Brave, a prominent crypto influencer on X, shared that Binance sent a pop-up notification to its users. According to the tweet’s screenshot, Binance will gradually cease supporting BUSD until 2024.
FYI: Binance will stop BUSD in 2024