Binance, issuer of stablecoin BUSD, to discontinue support for USDC, USDP and TU...
source link: https://finance.yahoo.com/news/binance-issuer-stablecoin-busd-discontinue-184643684.html
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
Binance, issuer of stablecoin BUSD, to discontinue support for USDC, USDP and TUSD
S&P Futures
3,943.75+19.25(+0.49%)Dow Futures
31,453.00+141.00(+0.45%)Nasdaq Futures
12,181.00+76.75(+0.63%)Russell 2000 Futures
1,822.70+13.40(+0.74%)Crude Oil
88.41+1.54(+1.77%)- 1,725.00+2.40(+0.14%)
Silver
18.27+0.39(+2.18%)EUR/USD
0.9956+0.0028(+0.2820%)10-Yr Bond
3.19300.0000(0.00%)- 25.76+0.20(+0.78%)
GBP/USD
1.1556+0.0037(+0.3247%)USD/JPY
141.8210+1.2460(+0.8864%)BTC-USD
19,953.07+175.11(+0.89%)CMC Crypto 200
484.54+4.87(+1.02%)FTSE 100
7,301.68+14.25(+0.20%)Nikkei 225
27,626.51+6.90(+0.02%)
Binance, issuer of stablecoin BUSD, to discontinue support for USDC, USDP and TUSD
Binance, the issuer of the world's third-largest stablecoin, said on Monday it will convert customers' holdings in three rival stablecoins USD Coin (USDC), Pax Dollar (USDP) and True USD (TUSD) into its own stablecoin (BUSD) on September 29 to "enhance liquidity and capital-efficiency for users" in a move that has baffled many enthusiasts.
As a result of the move, the world's largest crypto exchange said it will remove spot, future and margin trading with USDC, USDP and TUSD pairs.
"This will not affect users' choice of withdrawal: Users will continue to be able to withdraw funds in USDC, USDP and TUSD at a 1:1 ratio to their BUSD-denominated account balance," said Binance in a blog post.
Issued by Circle -- a $9 billion firm that counts BlackRock, Fidelity, FTX and Accel among its backers -- USDC is the second-largest stablecoin with a market cap of over $50 billion. The stablecoin is used in transactions worth over $5.5 billion a day, according to data from CoinMarketCap.
BUSD, Binance's stablecoin, currently has a market cap of $19.3 billion. Its daily volume trades jumped over 56% on the news to over $6.5 billion, according to CoinMarketCap.
"Based on market activity, it would seem much of this transition has already passed and while optimizing dollar liquidity on the world’s largest exchange may carry benefits, the paradigm does raise potential market conduct questions," a Circle spokesperson told TechCrunch.
- Reuters
Binance to convert users' USDC into its own stablecoin
Binance said it will remove and cease any trading on spot pairs that include USDC, USDP and TUSD; it will start the conversion on Sept. 29. USDC, which is principally operated by Circle Internet Financial and is the second largest stablecoin, has a nearly $51.9 billion market capitalization.
11h ago - Bloomberg
Nidec, SMC Added to Japan’s Blue-Chip Nikkei 225 in Reshuffle
(Bloomberg) -- Electric-motor maker Nidec Corp. will join the Nikkei 225 Stock Average as the blue-chip gauge adds some of Japan’s better-known high-tech companies.Most Read from BloombergRussia Privately Warns of Deep and Prolonged Economic DamageAmazon Closes, Abandons Plans for Dozens of US WarehousesWorld’s Deadliest Roads in Focus After Billionaire’s Fatal CrashNASA’s Artemis Rocket Is a Gigantic Waste of MoneyCalifornia Declares Grid Emergency as Odds of Blackouts RiseThe other additions i
1d ago - Footwear News
Private Equity Firm Reportedly Makes $2 Billion Bid for Kohl’s Real Estate
Kohl's is reportedly in talks with another suitor, this time to discuss potentially selling its real-estate assets.
17h ago - Bloomberg
Binance Will Convert Users’ USDC Into Its Own Stablecoin
(Bloomberg) -- Binance, the largest crypto exchange by volume, will start converting any existing user balances and new deposits of USD Coin (USDC), Pax Dollar (USDP) and True USD (TUSD) into the company’s own stablecoin, according to a statement published on Monday. The conversion is scheduled to begin Sept. 29. Most Read from BloombergRussia Privately Warns of Deep and Prolonged Economic DamageWorld’s Deadliest Roads in Focus After Billionaire’s Fatal CrashCalifornia Avoids Blackouts With Bigg
6h ago - TechCrunch
Solar Foods wants to replace industrial animal farming with a high-tech protein harvest
Fermentation has a long, rich history in food production, from beer and wine to yogurt and cheese, leavened bread and coffee, miso and tempeh, sauerkraut and kimchi, to name just a few of the tasty things we can consume thanks to a chemical process thought to date back to the Neolithic period. The industrial biotech startup is working on bringing a novel protein to market -- one it says will offer a nutritious, sustainable alternative to animal-derived proteins. The product, a single-cell protein it's branding Solein, is essentially an edible bacteria; a single-cell microbe grown using gas fermentation.
13h ago - CoinDesk
Crypto Custody Firm Copper Appoints Tim Neill as Chief Risk Officer
Neill, who has 20 years of experience in operations and risk management, previously worked at Mastercard.
20h ago - Quartz
Chinese brands are in the lead as Africa's demand for 5G smartphones grows
As more countries in Africa keep testing 5G networks, their citizens are upgrading from 4G smartphones to 5G-enabled ones, so they can be part of what Big Tech foresee will be the ignition point of the global digital economy.
21h ago - Simply Wall St.
With 5.9% one-year returns, institutional owners may ignore UFP Industries, Inc.'s (NASDAQ:UFPI) 6.6% stock price decline
Every investor in UFP Industries, Inc. ( NASDAQ:UFPI ) should be aware of the most powerful shareholder groups. The...
22h ago - Reuters
HSBC and Metro bank join Britain's Stop Scams hotline
HSBC, its online arm First Direct, and Metro Bank have joined a fraud-reporting hotline as the cost of living crisis increases the number of financial scams, an industry body said on Tuesday. Britain has become the scam capital of the world as more people bank online, especially since the COVID-19 pandemic began unfolding in 2020. Members already include Barclays, Meta, Microsoft, Google, NatWest, Nationwide Building Society, Santander and Talk Talk.
9h ago - CoinDesk
Crypto Exchange Binance Hires Former Brazilian Central Bank President as Adviser
Henrique Meirelles also served as economy minister between 2016 and 2018.
16h ago - Simply Wall St.
Northrop Grumman Corporation (NYSE:NOC) is a favorite amongst institutional investors who own 84%
A look at the shareholders of Northrop Grumman Corporation ( NYSE:NOC ) can tell us which group is most powerful. The...
20h ago MrBeast Burger sees thousands fill shopping centre
MrBeast fans flock to the grand opening of his first burger restaurant, in the US.
15h ago- Simply Wall St.
Mind Gym (LON:MIND) investors are sitting on a loss of 41% if they invested a year ago
It's easy to match the overall market return by buying an index fund. When you buy individual stocks, you can make...
1d ago - MarketWatch
Here’s what Morgan Stanley says will fuel another decline in stocks
Morgan Stanley strategist Mike Wilson says there's more pain in store, but for a different reason.
23h ago - TipRanks
Strong Insider Buying Makes These 2 Stocks Attractive
Profitable investing is all about making the right choices and finding the stocks to build a portfolio that will generate positive returns no matter what happens. The challenge now can be summed up in the range of headwinds pushing against the markets. Investors have to contend with high inflation, and the prospect of higher rates going forward, as Fed chair Powell has indicated that the central bank’s priority will be to tame it. But that doesn’t mean there aren’t opportunities to seek out in t
9h ago - Barrons.com
Bitcoin Prices Are Falling. Why Analysts Say a ‘Massive Capitulation’ Is Coming.
While stock and bond markets were closed for the Labor Day holiday in the U.S., the 24/7 nature of crypto means no respite from volatility.
21h ago - Investor's Business Daily
Dow Jones Futures Rise; Oil Prices Rally On Surprise OPEC+ Move, Russia News
Futures were mixed with the U.S. stock market closed Monday. Oil prices jumped as OPEC+ cut production. Russia won't restore European natural gas flows.
5h ago - Reuters
Bed Bath & Beyond CFO plunges to death at New York's Jenga tower
(Reuters) -Bed Bath & Beyond Inc's chief financial officer fell to his death from New York's Tribeca skyscraper known as the "Jenga" tower on Friday afternoon, police said on Sunday, days after the struggling retailer announced it was closing stores and laying off workers. Gustavo Arnal, 52, joined Bed Bath & Beyond in 2020. Police identified the man as Gustavo Arnal.
2d ago - TipRanks
‘The Market Bottom Is Near,’ Says Oppenheimer — Here Are 2 Stocks to Play That Bullish Sentiment
In a market trending down, there are fewer scenarios more appealing to investors than ones outlining bearish sentiment is about to turn positive. And according to Ari Wald, head of technical analysis at Oppenheimer, we’re on the cusp of one such turnaround right now. “Our analysis indicates September weakness is marking a final leg lower in the bear cycle, and a bullish opportunity for long-term investors,” Wald recently explained. “In the post-war era, the majority of bear cycles have been long
2d ago - Insider Monkey
Billionaire Stanley Druckenmiller is Decreasing Stakes in These 10 Stocks
In this article, we discuss the 10 stocks that billionaire Stanley Druckenmiller is decreasing stakes in. If you want to read about some more stocks in the Stanley Druckenmiller portfolio, go directly to Billionaire Stanley Druckenmiller is Decreasing Stakes in These 5 Stocks. Stanley Druckenmiller of Duquesne Capital is famous on Wall Street since his […]
20h ago - Reuters
Exclusive-Deal partner for Trump's Truth Social fails to get backing for SPAC extension -sources
The blank-check acquisition firm that agreed to merge with Donald Trump's social media company failed to secure enough shareholder support for a one-year extension to complete the deal, people familiar with the matter said on Monday. At stake is a $1.3 billion cash infusion that Trump Media & Technology Group (TMTG), which operates the former U.S. president's Truth Social app, stands to receive from Digital World Acquisition Corp, the special purpose acquisition company (SPAC) that inked a deal last October to take TMTG public. Digital World had been hoping that the U.S. Securities and Exchange Commission (SEC), which is reviewing its disclosures on the deal, would have given its blessing by now for the transaction to proceed.
6h ago - Motley Fool
The 2 Best Warren Buffett Stocks to Load Up On in September
Warren Buffett's Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) has had an off year. Through the first eight months of 2022, Berkshire's shares have lost over 7% of their value. Berkshire's relative strength in this brutal market is proof positive that the Oracle of Omaha, along with his investment team, haven't lost their touch for stock picking.
15h ago - Barrons.com
Al Gore’s Firm Made Big Bets on Microsoft, Shopify Stock
Generation Investment Management bought Microsoft, Shopify, and Mastercard stock, and sold Visa in the second quarter.
2h ago - Zacks
3M's (MMM) Healthcare Spinoff Sees Roadblock from Veterans
3M (MMM) faces a lawsuit from veterans to block its planned healthcare spinoff on concerns that the company might not be left with enough resources to pay for the damages caused by faulty earplugs.
19h ago - Fortune
Bed Bath & Beyond CFO accused of “pump and dump” scheme before falling to his death from NYC skyscraper
The lawsuit claimed CFO Gustavo Arnal was involved in a scheme to artificially inflate the company’s value.
1d ago - Motley Fool
3 Beaten-Down Growth Stocks To Buy in September
These innovative businesses are giving investors reasons to buy, but a bear market just isn't cooperating.
2d ago - TheStreet.com
Bearish Bets: 3 Stocks You Should Think About Shorting This Week
Using technical analysis of the charts of those stocks, and, when appropriate, recent actions and grades from TheStreet's Quant Ratings, we zero in on three names. While we will not be weighing in with fundamental analysis, we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names. Workday Inc. recently was downgraded to Sell with a D+ rating by TheStreet's Quant Ratings.
2d ago - Insider Monkey
10 Stocks to Buy According to Kevin McCarthy’s Breakline Capital
In this article, we discuss 10 stocks to buy according to Kevin McCarthy’s Breakline Capital. If you want to skip our detailed analysis of McCarthy’s history, investment philosophy, and hedge fund performance, go directly to 5 Stocks to Buy According to Kevin McCarthy’s Breakline Capital. Breakline Capital is a New York-based hedge fund that was […]
20h ago - Zacks
Why Is Berkshire Hathaway B (BRK.B) Down 4.9% Since Last Earnings Report?
Berkshire Hathaway B (BRK.B) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
17h ago - MoneyWise
US mortgage lenders are starting to go bankrupt — how this one factor could be triggering the worst surge of failures since 2008
Holding out hope for clear skies in real estate? You may be waiting a while.
2d ago - Insider Monkey
10 Dividend Stocks to Buy According to Bruce Kovner’s Caxton Associates LP
In this article, we discuss 10 dividend stocks to buy according to Caxton Associates LP. You can skip our detailed analysis of the hedge fund’s performance and investment strategy, and go directly to read 5 Dividend Stocks to Buy According to Caxton Associates LP. Bruce Kovner founded Caxton Associates in 1983. The global macro hedge […]
20h ago - Reuters
Euro plunges to new 20-year low after Russian gas halt
LONDON (Reuters) -The euro sank below $0.99 to a new 20-year low on Monday after Russia's halt to gas supplies down its main pipeline to Europe heightened fears about a deepening energy crisis across the region. The euro has been increasingly correlated with natural gas prices in recent months, with the former falling when prices of the energy source rise. Europe is scrambling to wean itself off Russian supplies and build up reserves before the cold winter months, but investors reckon the hit to its economy will be huge.
1d ago - Insider Monkey
10 Best Blue Chip Stocks To Buy
In this article, we discuss the 10 best blue chip stocks to buy. If you want to skip our industry overview, take a look at the 5 Best Blue Chip Stocks To Buy. A humanitarian crisis has been sparked by the conflict in Ukraine. The economic damage from the conflict is adding to inflation and […]
14h ago - The Wall Street Journal
The Best Ways to Jump Into Dividend Stocks
Lured by the prospect of steady income, investors are pouring billions into these inflation hedges without always understanding how they work.
20h ago - Investor's Business Daily
5 Best Chinese Stocks To Buy And Watch: Online Giant Breaks Out, EV Sales Mixed
5 best China stocks to buy and watch in September: Pinduoduo broke out on earnings, with Baidu setting up. Nio and Li Auto reported EV sales.
16h ago - Investor's Business Daily
These Are The 5 Best Stocks To Buy And Watch Now
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. So what are the best stocks to buy now or put on a watchlist?
16h ago - Motley Fool
Where Will AMD Be in 5 Years?
Advanced Micro Devices (NASDAQ: AMD) has grown rapidly over the last five years, recording terrific growth in its revenue and earnings thanks to market share gains over Intel (NASDAQ: INTC) in the client and server processor markets, as well as its presence in fast-growing niches such as gaming consoles. AMD says that it has gained client processor market share for nine straight quarters, which is not surprising given its stronger product lineup.
21h ago - Investor's Business Daily
These Are The Best Robinhood Stocks To Buy Or Watch Now
Buying a stock is easy, but purchasing the right stock without a proven strategy is incredibly hard. Here are the best Robinhood stocks to buy now.
8h ago - Reuters
Analysis-Big rate hike won't save euro as energy shock deepens
The hit to the euro zone economy and its currency from a deepening energy crisis is so severe that more aggressive monetary tightening from the European Central Bank will do little to stop the euro's slide. The euro on Monday fell below $0.99 for the first time since late 2002 after Russia halted the supply of natural gas through the main pipeline to Europe, sending energy prices soaring and heightening fears about a supply crunch. The weakening currency will be front and centre for the European Central Bank meeting on Thursday since a weak euro - down 13% in 2022 -- could make already record-high inflation worse through more expensive imports.
3h ago - Insider Monkey
10 Cheap Stocks to Buy According to Billionaire Ken Fisher
In this article, we will take a look at 10 cheap stocks to buy according to billionaire Ken Fisher. You can skip our comprehensive analysis of the history and investment philosophy of Ken Fisher and his fund Fisher Asset Management, and go directly to 5 Cheap Stocks to Buy According to Billionaire Ken Fisher. We […]
14h ago
Recommend
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK