{"id":558901,"date":"2023-03-03T08:34:39","date_gmt":"2023-03-03T05:34:39","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/binance-usd-market-cap-falls-below-10b-amid-rising-regulatory-concerns\/"},"modified":"2023-03-03T08:34:39","modified_gmt":"2023-03-03T05:34:39","slug":"binance-usd-market-cap-falls-below-10b-amid-rising-regulatory-concerns","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/binance-usd-market-cap-falls-below-10b-amid-rising-regulatory-concerns\/","title":{"rendered":"# Binance USD market cap falls below $10B amid rising regulatory concerns"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a373ba0aeac5\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a373ba0aeac5\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/binance-usd-market-cap-falls-below-10b-amid-rising-regulatory-concerns\/#%E2%80%9D_Binance_USD_market_cap_falls_below_10B_amid_rising_regulatory_concerns_%E2%80%9C\" >&#8221; Binance USD market cap falls below $10B amid rising regulatory concerns &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Binance_USD_market_cap_falls_below_10B_amid_rising_regulatory_concerns_%E2%80%9C\"><\/span>&#8221; Binance USD market cap falls below $10B amid rising regulatory concerns &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-48054ca8>Binance USD (BUSD) market cap has fallen below $10 billion for the first time in almost two years amid a United States regulatory crackdown on its token issuer and a planned delisting from a major crypto exchange.<\/p>\n<p>BUSD\u2019s marketcap has been on a steep downward trajectory since its all-time high (ATH) market cap of $23.49 billion on Nov. 15, just a few days after the shock collapse of FTX. <\/p>\n<p>As of today, the stablecoin\u2019s marketcap has fallen to $9.66 billion \u2014 levels not seen since Jun. 29, 2021.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/53ab1eb9-aecb-408b-a5c8-14dd37293869.jpg\"><figcaption style=\"text-align: center;\"><em>Market cap of Binance USD (BUSD) over the last 12 months. Source:<\/em><em> <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/coins\/binance-usd\"><em>CoinGecko.<\/em><\/a><\/figcaption><\/figure>\n<p>Most recently, BUSD has been the subject of a potential lawsuit against Paxos by the United States Securities Exchange Commission (SEC) on Feb. 12 over a possible violation of investor protection laws. Since then SEC, $6.65 billion has been shaved off BUSD\u2019s market cap.<\/p>\n<p>Paxos was also ordered by the New York District of Financial Services (NYDFS) to stop minting and issuing BUSD on Feb. 12 too, which is likely to have contributed to the stablecoin\u2019s market cap fall.<\/p>\n<p>Earlier this week, cryptocurrency exchange Coinbase\u00a0announced it will be delisting BUSD from its exchange on Mar. 13 because the stablecoin \u201cno longer met our listing standards,\u201d a Coinbase spokesman told Cointelegraph. <\/p>\n<p>The wider crypto market has also seen a fall in market cap, with many pointing to the recent controversy surrounding Silvergate Bank with the late filing of its annual 10-K financial report on Mar. 1.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Unstablecoins: Depegging, bank runs and other risks loom<\/em><\/strong><\/p>\n<p>Upon its launch in September 2019, the Binance-branded stablecoin quickly surged to become the third largest stablecoin behind Tether (USDT) and USD Coin (USDC). <\/p>\n<p>The stablecoin is currently in 10th position in terms of market cap across all cryptocurrencies. The next crypto token on the list is Solana (SOL) with $7.98 billion in market cap.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/bb24c1b0-3653-4efa-b63f-94a04c2d230e.jpg\"><figcaption style=\"text-align: center;\"><em>The largest stablecoins by market cap. Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/categories\/stablecoins\">CoinGecko. <\/a><\/em><\/figcaption><\/figure>\n<p>Interestingly, Binance CEO Changpeng \u2018CZ\u2019 Zhao stated in a Feb. 14 <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> Spaces that he never thought very highly of the Binance stablecoin project, adding that he thought it \u201cmay fail\u201d when it first rolled out. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">BUSD market cap dropped -$2.45B (from 16.1B to 13.7B as of now), and most of it has moved to USDT. <\/p>\n<p>USDT marketcap + 2.37B (From 67.8B to 70.1B)<\/p>\n<p>USDC also declined -739M (from 42.3B to 41.5B)<\/p>\n<p>Landscape is shifting.<\/p>\n<p>(Note: BUSD is NOT issued by Binance.) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/kVrZUYjuOh\">pic.twitter.com\/kVrZUYjuOh<\/a><\/p>\n<p>\u2014 CZ  Binance (@cz_binance) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cz_binance\/status\/1626453898989805569?ref_src=twsrc%5Etfw\">February 17, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>To account for the fall in demand for BUSD, Binance recently minted nearly $50 million worth of TrueUSD (TUSD) as the cryptocurrency exchange looks to diversify its stablecoin holdings. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/binance-usd-market-cap-falls-below-10b-amid-rising-regulatory-concerns\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Binance USD market cap falls below $10B amid rising regulatory concerns &#8220; Binance USD (BUSD) market cap has fallen below $10 billion for the first time in almost two years amid a United States regulatory crackdown on its token issuer and a planned delisting from a major crypto exchange. BUSD\u2019s marketcap has been on&#8230;<\/p>\n","protected":false},"author":1,"featured_media":558902,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/57bb33d7-6913-4600-92e2-e73beacef72f.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,75014,138848,77672,74956,75679,76605,74898,75493,117,70934],"class_list":["post-558901","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-binance","tag-binance-usd","tag-changpeng-zhao","tag-coinbase","tag-market-capitalization","tag-paxos","tag-sec","tag-stablecoin","tag-business","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/558901","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=558901"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/558901\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/558902"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=558901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=558901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=558901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}