Binance intend to stop Busd on 2024 | Bitcointalksearch.org

CryptopreneurBrainboss

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Quote from: Roseline492 on August 30, 2023, 08:34:31 AM

My country people I greet unable oooh, I come across this post, way say Binance go stop Busd trading from 2024, and so Binance have actually started asking there users to stop support Busd and that there services will be phased out until Paxos will complete the acquisition of Busd by February 2024. so I say make I share am here for those way nava they aware and get small Busd for account so them take action immediately.

You do well and this news dun dey for the media for sometime now as e get when the SEC been dey worry Binance based on this their BUSD mata and e belike dem been call am an unregistered security. Binance come say no be dem self dey issue the stablecoin even though e dey bear their name. The mata come out around February this year and maybe this na just steps wey Binance exchange dun dey take to protect their customers and also to comot for the SEC lawsuit wahala because if dem prove say BUSD na security and Binance exchange still dey parole with dem e fit pit dem for big wahala.

Quote from: Doan9269 on August 30, 2023, 11:09:02 AM

The news is not true as i see it, if the people were aware of these, all investors will withdraw their assets from it, secondly, BUSD is a currency that I don't think can easily go down line that, though if something like this should happen, then we should first expect much of this from Binance exchange itself than the coin first, which regulations will keep Binance running but BUSD down, i don't think it will stop or they would have announced it by this earlier.

The mata na true and Binance been dun dey offer the swapping BUSD to other stablecoin service. Also I been dun dey get notifications of BUSD pairs been delisted from Binance exchange since and other services wey person fit do for the exchange with BUSD has been slowly removed. Binance dey take precautions make e no cause price to tank due to panic as any harsh moves wey dem make go fit affect the market and they'll be held responsible. Already Binance dun send notifications say; Binance Encourages Users to Convert BUSD to Other Stablecoins Prior to February 2024 and this one na information directly from the official Binance exchange support page.

Roseline492

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Quote from: Kelward on September 02, 2023, 06:06:51 PM

Quote from: sokani on August 30, 2023, 01:00:22 PM

Quote from: Doan9269 on August 30, 2023, 11:09:02 AM

The news is not true as i see it, if the people were aware of these, all investors will withdraw their assets from it, secondly, BUSD is a currency that I don't think can easily go down line that, though if something like this should happen, then we should first expect much of this from Binance exchange itself than the coin first, which regulations will keep Binance running but BUSD down, i don't think it will stop or they would have announced it by this earlier.

Di news fit be true. Although I neva see an official announcement from Binance or from a reputable media outlet like Cointelegraph, but Cryptonomist don report about am. Di reason wey dem give be say Paxos Trust Company wan acquire BUSD and also because of legal action wey SEC bin file against Paxos because of BUSD, say dem no follow regulatory compliance. Maybe why people no go too panic na because di news neva spread well well and na something wey go happen in 2024, so time dey plenty for people to convert their BUSD to whatever asset dem wan covert am to. Make we dey watch sha weda di time of BUSD don come to an end or na anoda fake news.

Some elements of truth de dey for almost all rumors, diafo di information fit to be true or dem fit to de speculate wetin fit happen, based on say paxos wey acquire BUSD get some gbege for ground. But all di same as Binance never come all out say na so e be, make we no conclude finish say na true. Me I see Binance as a reputable exchange wey don make name and dem no go want wetin go spoil de trust for cryptocurrency matter, especially bitcoin wey be di baba., so I feel say no course for alarm yet.

Na so e be na, but make we just reason am this one say in every rumors this is a bit of truth so make we they very cautious of having funds on busd because prevention is better than cure, plenty people done loss funds similar to this so make we no they ignorant.

Kelward

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Quote from: sokani on August 30, 2023, 01:00:22 PM

Quote from: Doan9269 on August 30, 2023, 11:09:02 AM

The news is not true as i see it, if the people were aware of these, all investors will withdraw their assets from it, secondly, BUSD is a currency that I don't think can easily go down line that, though if something like this should happen, then we should first expect much of this from Binance exchange itself than the coin first, which regulations will keep Binance running but BUSD down, i don't think it will stop or they would have announced it by this earlier.

Di news fit be true. Although I neva see an official announcement from Binance or from a reputable media outlet like Cointelegraph, but Cryptonomist don report about am. Di reason wey dem give be say Paxos Trust Company wan acquire BUSD and also because of legal action wey SEC bin file against Paxos because of BUSD, say dem no follow regulatory compliance. Maybe why people no go too panic na because di news neva spread well well and na something wey go happen in 2024, so time dey plenty for people to convert their BUSD to whatever asset dem wan covert am to. Make we dey watch sha weda di time of BUSD don come to an end or na anoda fake news.

Some elements of truth de dey for almost all rumors, diafo di information fit to be true or dem fit to de speculate wetin fit happen, based on say paxos wey acquire BUSD get some gbege for ground. But all di same as Binance never come all out say na so e be, make we no conclude finish say na true. Me I see Binance as a reputable exchange wey don make name and dem no go want wetin go spoil de trust for cryptocurrency matter, especially bitcoin wey be di baba., so I feel say no course for alarm yet.

CryptSafe

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I am sure binance would have sent customers mails by now to preinform all registered members on their platform likewise paxos too could have made this public to inform the general public about the development going on. Maybe they choose to remain silent over it. I think This update might be true but they would only be when the organisations in question makes it public for all to know of to he unfolding development and their plans in the nearest future with respect to the agreement binding both parties.
I am anticipating a mail from binance to ascertain the originality of this news because most times they are right as Such organisations are having something in common but what the news outlets most times report is quite different from what really happened. Till the official binance and paxos makes a statement, all these are mere fiction.

Nwada001

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I can't find any recent news regarding this on either Paxo's official Twitter handle or that of Binance's Twitter page, but I still saw it on 2-3 different news sites. I wonder why this has not yet been made public by any of the parties, although I read somewhere that the Exchange sent mail to some of their customers regarding this and how they plan to stop supporting it in the near future. I could also read that this is as a result of the SEC lawsuit, just as it has been mentioned by the OP.

But if I could remember correctly, this lawsuit happened during last year or something of that nature, and that was when they stopped minting the said BUSD in February last year, and it was also announced on the Binance office news portal. But there is no need to actually panic, as there won't be any kind of loss incurred if people can take the warning seriously and convert all their Busd into any other coin or token that they are okay with, then leave the Paxo to make their acquisition by whatever means necessary.

sokani

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Quote from: Doan9269 on August 30, 2023, 11:09:02 AM

The news is not true as i see it, if the people were aware of these, all investors will withdraw their assets from it, secondly, BUSD is a currency that I don't think can easily go down line that, though if something like this should happen, then we should first expect much of this from Binance exchange itself than the coin first, which regulations will keep Binance running but BUSD down, i don't think it will stop or they would have announced it by this earlier.

Di news fit be true. Although I neva see an official announcement from Binance or from a reputable media outlet like Cointelegraph, but Cryptonomist don report about am. Di reason wey dem give be say Paxos Trust Company wan acquire BUSD and also because of legal action wey SEC bin file against Paxos because of BUSD, say dem no follow regulatory compliance. Maybe why people no go too panic na because di news neva spread well well and na something wey go happen in 2024, so time dey plenty for people to convert their BUSD to whatever asset dem wan covert am to. Make we dey watch sha weda di time of BUSD don come to an end or na anoda fake news.

Roseline492

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Quote from: Doan9269 on August 30, 2023, 11:09:02 AM

The news is not true as i see it, if the people were aware of these, all investors will withdraw their assets from it, secondly, BUSD is a currency that I don't think can easily go down line that, though if something like this should happen, then we should first expect much of this from Binance exchange itself than the coin first, which regulations will keep Binance running but BUSD down, i don't think it will stop or they would have announced it by this earlier.

Yeah I understand mate but actually i got the message also directly from Binance with the same information so I'm surprise why Binance could only send the information to few persons, perhaps to be on a safer side people that has funds on Busd should exchange it for now until we no the whole truth, because like they say prevention is better.

Doan9269

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The news is not true as i see it, if the people were aware of these, all investors will withdraw their assets from it, secondly, BUSD is a currency that I don't think can easily go down line that, though if something like this should happen, then we should first expect much of this from Binance exchange itself than the coin first, which regulations will keep Binance running but BUSD down, i don't think it will stop or they would have announced it by this earlier.

Roseline492

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Activity: 476

Merit: 276

My country people I greet unable oooh, I come across this post, way say Binance go stop Busd trading from 2024, and so Binance have actually started asking there users to stop support Busd and that there services will be phased out until Paxos will complete the acquisition of Busd by February 2024. so I say make I share am here for those way nava they aware and get small Busd for account so them take action immediately.

Source: https://mpost.io/binance-to-discontinue-busd-support-in-2024-amid-regulatory-concerns/

Topic: Binance intend to stop Busd on 2024 (Read 118 times)