Binance USD News

Persistent worries about Binance’s solvency, increased regulation of the crypto sector and questionable use cases are chipping away at BUSD’s market capitalization.

The stablecoin market, in general, is going through hard times, though the algorithmic coins suffered the most.

New data indicates Binance’s stablecoin, BUSD, has been undercollateralized at times by more than $1 billion. Yet, few have questioned CEO Changpeng Zhao.

The crypto exchange said there was a “timing mismatch in backing Binance-Peg BUSD with BUSD” that seemingly showed data in which the stablecoin was not fully backed.

Circle attributed its miscalculated financial projections to Binance implementing USDC to BUSD auto-conversions and the recent collapse of FTX.

A few months prior, wrong-network retrieval fees costed around 0.001 BTC on Binance.

TrueFi does not expect Blockwater Technologies' default to affect its stablecoin lending pools or capital market portfolios.

UST market cap has surged to flip BUSD. However, its trading volumes are still only around one-fifth worth of the Binance digital dollar.