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Title: Binance will stop support for BUSD after 2024, What will happen for BNB then? Post by: I_RodimusPrime on August 31, 2023, 04:58:05 PM Since you already know this or you aren't aware of this. Unfortunately, Binance going to stop supporting BUSD after 2024 Feb and they informed all the BUSD holders to convert their BUSD to other stablecoins. Also, they are going to stop all the BUSD gift cards, fixed-term subscriptions and deposits also in the BNB chain.
Source (Binance): https://www.binance.com/en/support/announcement/binance-encourages-users-to-convert-busd-to-other-stablecoins-prior-to-february-2024-d392843e81fd4bc3a5f7e219aa01f34d With this news, what do you think about Binance Exchange's future and BNB coin? Title: Re: Binance will stop support for BUSD after 2024, What will happen for BNB then? Post by: Knight Hider on August 31, 2023, 05:01:53 PM Is regulation getting too hot for them?
--Knight Hider Title: Re: Binance will stop support for BUSD after 2024, What will happen for BNB then? Post by: sysoe on September 01, 2023, 07:59:43 AM Maybe Binance is just trying to simplify its product range and focus on other stablecoins. It's also possible that they'll face regulatory pressure to stop supporting BUSD. The SEC is clamping down on stablecoins, and it's possible Binance is trying to avoid potential lawsuits in the future. Personally, I still feel bullish about Binance and BNB. Binance is the world's largest crypto exchange and has a strong innovation history. I believe that BNB can increase its value in the future.
Title: Re: Binance will stop support for BUSD after 2024, What will happen for BNB then? Post by: I_RodimusPrime on September 01, 2023, 04:52:16 PM Is regulation getting too hot for them? --Knight Hider Seems like they are scaring for those regulations. Otherwise why they act like this right? Title: Re: Binance will stop support for BUSD after 2024, What will happen for BNB then? Post by: DeathAngel on September 01, 2023, 08:08:59 PM Is regulation getting too hot for them? --Knight Hider That’s exactly what it is, plus perhaps, whisper it, they have been dishonest with user funds & doing similar to what SBF was doing with FTX. There must be a reason that the SEC are gunning for them so hard. Title: Re: Binance will stop support for BUSD after 2024, What will happen for BNB then? Post by: hopenotlate on September 01, 2023, 08:41:03 PM Lol things change so fast in crypto world : it was only September 2022 when Binance announced they were automatically turning customers' stablecoins funds to their one (BUSD) somehow trying to boycott them with the aim of gaining market share and now they are completely discontinuing it. Backfired to say the least.
Title: Re: Binance will stop support for BUSD after 2024, What will happen for BNB then? Post by: I_RodimusPrime on September 02, 2023, 05:44:07 PM Lol things change so fast in crypto world : it was only September 2022 when Binance announced they were automatically turning customers' stablecoins funds to their one (BUSD) somehow trying to boycott them with the aim of gaining market share and now they are completely discontinuing it. Backfired to say the least. ha ha that's what I wondering too. What happened to them? Maybe they thought that what happened to FTX will also happen to them in future. |