BUSD

On March 8, the Aave community’s ARFC proposal on “BUSD Off-shelf Plan” has been voted (ARFC proposal is usually considered as “temperature check”), and has received 99.99% affirmative votes. The proposal outlines the final exit plan of BUSD in the Aave V2 Ethereum market, which aims to reduce the liquidity of BUSD and encourage users to turn to other stable currencies. This plan involves modifying the BUSD risk parameters and will be implemented in a single AIP. Interpretation of this information: The Aave community has voted in favor of the…

It is reported that the New York Financial Services Department (NYDFS)’s BUSD casting ban forced Coin to find other stable currency alternative solutions to meet market demand. According to the data on the chain, Coin An is seeking to join TrueUSD. From February 16 to February 24, Coin An minted 180 million TUSD. At the same time, it also added some other decentralized stable currency support. Since June 2019, TrustToken, the stable currency TUSD operation linked to the US dollar, has been a partner of Coin Security. This relationship allows…

21:00-7:00 Key words: BUSD, Coinbase, Robin Hood, DCG report Interpretation of this information: The message is related to BUSD, Coinbase, Robin Hood, and DCG report. It appears that the message is related to some form of financial update or report, possibly related to cryptocurrency or digital currency. BUSD is a cryptocurrency that is tied to the value of the US dollar. It is a stablecoin, which means that its value is not subject to the frequent fluctuations seen in other cryptocurrency markets. BUSD has become increasingly popular in recent years,…

It is reported that Coinbase, the cryptocurrency exchange, announced that it would suspend the transaction of Binance USD (BUSD) at about 12:00 EDT on March 13, 2023. BUSD funds can still be used by users and will continue to be able to withdraw funds at any time. Interpretation of this information: Coinbase, a major player in the cryptocurrency market has announced its decision to suspend the transaction of Binance USD (BUSD). The suspension will be effective from 12:00 EDT on March 13, 2023. BUSD is a stablecoin that is pegged…

According to reports, Andrew T, an analyst at Nansen, said on the social platform that more than US $6 billion of BUSD has been destroyed in the past 30 days, which is equivalent to the top 20 cryptocurrency in market value. At present, there are still US $11 billion of BUSD in circulation, of which about US $9.7 billion is deposited in Binance. Interpretation of this information: The recent report reveals that the stable coin, BUSD, has lost over $6 billion in the past 30 days. This loss is equivalent…

On February 27th, the governance page showed that the proposal of the Aave community on “Freezing BUSD on Aave V2” was approved by the vote with 100% support and was implemented on February 26th. Interpretation of this information: The message informs that the proposal made by the Aave community regarding the freezing of BUSD on Aave V2 was approved by the vote and implemented on February 26th. Aave is a decentralized finance protocol that allows users to lend and borrow various cryptocurrencies. BUSD is a stablecoin pegged to the US…

According to reports, Whale Alert data showed that at 22:34:35 Beijing time on February 24, Paxos Treasury destroyed 162499505 BUSDs. Interpretation of this information: The above message highlights a recent development in the cryptocurrency market, as per the data shared by Whale Alert. The report confirms that Paxos Treasury, a leading provider of blockchain infrastructure solutions, has destroyed a significant amount of BUSDs on February 24th, 2021, at 22:34:35 Beijing time. This news is significant for multiple reasons, and its interpretation can help users understand the implications of the event…

According to the report, according to the data of Coingecko, the current market value of BUSD has dropped to $11136982794, which was surpassed by DOGE ($11279147260). At the same time, it has also fallen out of the top 10 in market value and is currently the 11th largest cryptocurrency in market value. Interpretation of this information: The cryptocurrency market has experienced some significant changes lately, as reported by Coingecko. BUSD, which is a stablecoin backed by the U.S. dollar, has lost its spot in the top 10 largest cryptocurrencies by…

According to reports, Whale Alert monitoring data showed that at 18:38 on February 24, 2023, Paxos Treasury destroyed 116871995 BUSDs. Interpretation of this information: On February 24, 2023, Whale Alert, a blockchain transaction tracking firm, reported that Paxos Treasury, an entity that manages the stablecoin BUSD, had destroyed over 116 million BUSDs. This act of destroying digital currency may seem counterintuitive, but it is a relatively common practice in the world of stablecoins. Stablecoins are cryptocurrencies that are pegged to the value of another asset, such as the US dollar,…

According to the report, according to the data of MistTrack in Slow Fog, the Platypus attacker exchanged 10654 AVAX for 127 WETHs and then transferred them to the Ethereum network across the chain. At present, the stolen funds are located at 0x5fc3… 08bfd9, which extracted 12178 BUSDs from Binance in May 2022. Interpretation of this information: The message is relaying information from a report that provides some data on an incident involving the Platypus attacker. According to the report, the attacker exchanged 10654 AVAX for 127 WETHs and then transferred…

According to reports, Whale Alert monitoring data showed that 97858390 BUSDs were destroyed by PaxosTreasury at 12:38 on February 24, 2023, Beijing time. Interpretation of this information: The message states that at 12:38 on February 24, 2023, PaxosTreasury destroyed 97858390 BUSDs, as per the Whale Alert monitoring data. BUSD is a stablecoin pegged to the value of the US dollar, and PaxosTreasury is a regulated trust company that manages and issues BUSD. When BUSDs are “destroyed,” it means they are taken out of circulation, making the remaining BUSD in circulation…

It is reported that Binance is turning to a “semi-automatic” process to manage its issued token reserves. Over the years, the reserves have been mixed with customer funds, and at least one major stable currency, namely the currency security linked to the BUSD, is not always fully supported. Interpretation of this information: Binance, one of the largest cryptocurrency exchanges in the world, is apparently changing the way it manages its issued token reserves. According to reports, Binance will now adopt a “semi-automatic” process for managing these reserves. In the past,…

According to reports, according to Etherscan data, Paxos Treasury destroyed 93336183 BUSDs one hour ago (17:21:23 UTC, February 22). Interpretation of this information: The recent news on Paxos Treasury is quite intriguing as it reports a destruction of 93,336,183 BUSDs (a stablecoin pegged to the US dollar) an hour ago, as per Etherscan data. Paxos Treasury is a regulated financial institution that also acts as a custodian for the stablecoin BUSD. BUSD is used to facilitate efficient transactions on distributed ledgers as it is a digital asset that settles on-chain….

It is reported that stabilizing the currency market has become a major goal of US regulators. After the news that BUSD (the dollar-based stable currency of Binances managed by Paxos) has become the target of regulators, industry observers began to suspect that the next shoe would fall. According to Nansen, a cryptographic analysis company, the wallet on Binance is adding a large amount of USD stable currency of Circle. One of Binance’s wallets currently holds more than US $1.8 billion in USDC, which is the highest amount in the past…

According to reports, Binance said in a social media message that 2 billion BNB Chain BUSDs will be destroyed today, and the Ethereum BUSDs as collateral will be released. Interpretation of this information: In a social media message released on June 29th, cryptocurrency exchange Binance announced that it would be destroying 2 billion BUSDs (Binance USD) that are built on the Binance Smart Chain. The exchange also stated that the Ethereum BUSDs would be released as collateral. For those unaware, BUSD is a stablecoin that is pegged to the US…

It is reported that Charles Cascarilla, CEO of Paxos, raised an objection to the unilateral “Wells Notice” issued by the Securities and Exchange Commission of the United States, which said that BUSD was a kind of security, and pointed out that according to the Howey test and the Reves test, BUSD did not meet the security standards, because the stable currency was always supported by cash and equivalents (such as US dollars and US bonds), He also said that Paxos had so far contributed more than US $2.8 billion in…

On February 22, Nansen data showed that among the current reserves of nearly $3.372 billion, the proportion of USDC rose to 55.78%, about 1.877 billion; However, the reserve of BUSD in Coin Anzhong is only 57.3263 million. Interpretation of this information: The message highlights the recent development in the cryptocurrency market where Nansen data shows that the USDC has emerged as the top choice for reserve funds among different cryptocurrencies. As per the report, the current reserves of $3.372 billion have a 55.78% share of USDC, which amounts to approximately…

According to reports, Reuters quoted an internal email from the chief executive of Paxos as reporting that Paxos was having a constructive discussion with the Securities and Exchange Commission. Previously, the company disclosed that the regulatory authority told the company that it should register BUSD as a security. Interpretation of this information: The news that Paxos is reportedly in productive talks with the Securities and Exchange Commission (SEC) has been making headlines recently. According to reports, the CEO of Paxos sent out an internal email updating the company on the…

According to reports, Whale Alert data monitoring shows that Paxos destroyed 122 million BUSDs at 14:54 today. Interpretation of this information: Paxos, a financial technology company that specializes in blockchain-based infrastructure for digital assets, has destroyed 122 million BUSDs. According to Whale Alert, a monitoring system that tracks large cryptocurrency transactions, the event took place on September 22nd, 2021, at 14:54. This move by Paxos could have several underlying reasons. Firstly, it is essential to understand what BUSD is to interpret the significance of this event. BUSD refers to a…

7:00-12:00 Keyword: IMX, BUSD, Paxos, Filecoin virtual machine Interpretation of this information: The message seems to be discussing some business or technology-related news or updates. The time mentioned, 7:00-12:00, could be a window for some sort of event or announcement. The keywords IMX, BUSD, Paxos, and Filecoin virtual machine, suggest specific entities or components involved in the message. IMX could be referring to the iMX platform, which is a blockchain-based tokenization platform for real estate assets. BUSD is likely to be the Binance USD stablecoin, which is pegged to the…