Binance will stop support for BUSD after 2024, What will happen for BNB then?

[I_RodimusPrime]

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?

[Knight Hider]

Is regulation getting too hot for them?

--Knight Hider

[sysoe]

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.

[I_RodimusPrime]

Is regulation getting too hot for them?

--Knight Hider

Seems like they are scaring for those regulations. Otherwise why they act like this right?

[DeathAngel]

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.

[hopenotlate]

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.

[I_RodimusPrime]

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.