Bitcoin News Official Today TheBitTimes.com

Binance.US users “may convert” their USD funds to stablecoins or other digital assets in order to withdraw USD funds from their accounts, the firm said. Cryptocurrency exchange Binance.US has updated its terms of service, hinting that direct withdrawals in the U.S. dollar are no longer supported on the platform. Binance.US updated its terms of service on Oct. 16, significantly modifying the section about the “BAM Fiat Wallet,” referring to Binance US services related to USD custody. In the updated terms, Binance.US wrote that users “may convert” their USD funds to stablecoin s or other digital assets in order to withdraw USD funds from their accounts. Some cryptocurrency enthusiasts took to X (formerly Twitter) to confirm the terms of service's change on Binance.US. "Binance seizes USD. Don’t worry you can buy Tethers printed out of thin air or shitcoins," one crypto observer on X wrote. Binance US seizes USD. Don’t worry you can buy Tethers printed out of thin air or ...

Once a top-three stablecoin, Binance USD ( BUSD ) looks to be in very real danger of vanishing altogether. But what happened and can it recover? BUSD started in 2019 under the umbrella of Binance ’s ‘Project Venus‘ — billed as “an initiative to develop localized Stablecoins and digital assets pegged to fiat currencies across the globe.” The coin got off to a slow start and its market cap sat at less than $200 million for months before suddenly increasing in late 2020. As Binance offered a series of contests and market-making rewards to clients who used BUSD and pushed the exchange to move away from competitors, the coin’s market cap rocketed to over $23 billion in 2022. Two years may be an extremely short amount of time for an asset to go from $800 million to $23 billion, but the speed of its ascent pales in comparison to how fast it collapsed. BUSD begins to bleed When FTX collapsed in November 2022, it spelled the end for BUSD. The coin...