Claim BonusJust In: After BUSD Fall, Binance’s CZ Supporting This Stablecoin?
Binance CZ BUSD: After the recent probe by the U.S. Securities and Exchange Commission’s (SEC) against Paxos and the objection to issuance of Binance USD (BUSD), there has been a big shift of dynamics in the stablecoin category. Traders preferred to move assets from BUSD to top stablecoins USDC and USDT. However, Binance CEO CZ stressed on the need for stablecoins pegged to fiat currencies other than US Dollar. Meanwhile, on chain activity indicates the crypto exchange is trying to capitalize on the shift by supporting other stablecoins.
Also Read: Floki Listing On Binance Is Confirmed Sooner Or Later? Here’s Why
Binance Minting TUSD?
It appears that Binance just minted the stablecoin TrueUSD (TUSD) in large volumes. As per Whale Alert notice, the exchange minted as many as 49 million TUSD. In this connection, TrueFi (TRU), a cryptocurrency previously linked to TUSD, gained huge buying interest. In the last few hours, the TRU token rose by an astounding 170%, although it has relatively smaller market cap. At $971 million market size, TUSD is ranked 54 among major cryptocurrencies.
The latest move to mint TUSD can be seen as Binance’s efforts to support other stablecoins, as CZ said, after BUSD’s decline. Interestingly, TUSD was among the stablecoins Binance introduced auto conversion for in exchange for BUSD in September 2022. The exchange cited enhanced liquidity and capital-efficiency for users for choosing to put all the assets in the BUSD account.
Also Read: Bitcoin (BTC) Price Prediction: Plan B Extremely Bullish For End Of February
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Coinbase Directors Faces Insider Trading Lawsuit Despite Internal Clearance of Charges
- Tennessee Advances Bitcoin Reserve Bill as Strategic BTC Adoption Grows in the U.S
- CLARITY Act Set to Progress as Coinbase and Banks Meet on Monday to Resolve Stablecoin Dispute
- CLARITY Act: Coinbase’s Brian Armstrong and JPMorgan’s Jamie Dimon Clash Over Crypto Bill
- Fed Rate Cut: Trump Signals Fed Chair Pick Kevin Warsh Will Lower Rates
- Ethereum Price Prediction As Vitalik Withdraws ETH Worth $44M- Is a Crash to $2k ahead?
- Bitcoin Price Prediction as Trump Names Kevin Warsh as new Fed Reserve Chair
- XRP Price Outlook Ahead of Possible Government Shutdown
- Ethereum and XRP Price Prediction as Odds of Trump Attack on Iran Rise
- Gold and S&P 500 Price Prediction as BTC $88K Sparks Global Risk-On Rally
- How High Can Hyperliquid Price Go in Feb 2026?
