Update:
Now that SEC has issued a warning to paxos to stop minting anymore BUSD which has been a stablecoin that Binance was majorly shilling even when it comes to trading pairs, I wonder what happens next.
Obviously, BUSD's trading volume will dwindle over time and won't be a major stablecoin on their platform. Will Binance make a U-turn and re-list the stablecoins they delisted in an attempt to keep the trading volumes high?
Topic: Binance to delist USDC, USDP, TUSD from the platfom on 26th September (Read 297 times)
February 14, 2023, 05:57:14 PM
September 13, 2022, 07:15:57 AM
Do you think there will come a time when Binance will stop supporting USDT so as to continue forcing people to use BUSD on their platform?
IMO it will happen. But it could take long time as long as USDT remain popular among trader and there aren't any major controversy/legal case.
... but the way they are going they could even remove BTC on mainnet one day.
And they already push people to use WBTC on their BSC network.
If Binance will continue to keep delisting the top coins because they want to utilize their own BSC versions then their days as the leading crypto currency exchange are numbered. I have friends that are into trading looking for another options. Many of them set sights on Kucoin and the other leading crypto exchanges. I have some coins left in Binance but I will also leave the exchange for another reliable exchange if they keep on delisting top coins.
September 12, 2022, 05:41:11 PM
Sounds like forced compliance or else face the wrath of big brother. Appears Binance wants favor from the government, guess they have seen what happened to XRP, AMP, etc
It has nothing to do with compliance lol. it's more of a way to try and remove direct competition from their exchange in favor of their stablecoinRidiculous, seems all stable coins pair will be removed expect BUSD & USDT. Since they are going to remove all stable coins, so I believe they will remove USDT as well near future to force Binance users to use BUSD. It's direct manipulation, to be honest.
That's what I was thinking too. in the near future, they will come up with an excuse to delist USDT. Already their are signs when you use their platform. the spot and Futures trading pairs for USDT are hidden while those for BUSD are readily available. You have to look hard to get the USDT trading pairs. 
September 10, 2022, 02:16:55 PM
Ridiculous, seems all stable coins pair will be removed expect BUSD & USDT. Since they are going to remove all stable coins, so I believe they will remove USDT as well near future to force Binance users to use BUSD. It's direct manipulation, to be honest. Of course, they are considering BUSD to make more strong as a stable coin. Holding stable coins become pretty hard nowadays after Terra's allegations. Not a good decision for users.
September 10, 2022, 02:12:47 AM
Sounds like forced compliance or else face the wrath of big brother. Appears Binance wants favor from the government, guess they have seen what happened to XRP, AMP, etc
September 08, 2022, 02:20:50 PM
Starting with mandatory ok KYC, trying to bump BNB, trying to be a decentralized platform, buying CMC, launching its own blockchain, and now trying to eliminate the closest competitors (USDC.)
Honestly, all Binance is trying to do is monopolistic behavior, which is bad for a platform in a decentralized society.
I wouldn't be surprised if they are willing to do anything to maximize their profits including start closing accounts without any obvious reasons.
Honestly, all Binance is trying to do is monopolistic behavior, which is bad for a platform in a decentralized society.
I wouldn't be surprised if they are willing to do anything to maximize their profits including start closing accounts without any obvious reasons.
September 06, 2022, 11:01:48 PM
Do you think there will come a time when Binance will stop supporting USDT so as to continue forcing people to use BUSD on their platform?
Yes, actually a big YES to that. Binance tends to monopolize. Binance is greedy. So it's just a matter of time before Binance would also kick out USDT in favor of their BUSD. But there will be conditions, of course. Binance means business and money more than anything else. So for as long as USDT is as huge as it is right now, they couldn't remove it.
At this point, Binance is slowly but surely killing other competitors. It cannot do that with USDT, at least for now. It has billions in daily volume with BTC/USDT pair alone, another more than a billion with ETH/USDT, and so on. Binance needs USDT for now for the sake of revenue. The moment it weakens, Binance would definitely remove it.
September 06, 2022, 07:42:32 PM
I just remembered this article where it said that the CEO of Circle has denied the rumors that Circle was going to collapse because it had exposure to Genesis, Blockfi, Celsius, 3 Arrows Capital and Galaxy Holdings. This is head shaking if it is true because what if Binance is converting everything to BUSD not for efficiency. What if they are doing this to avoid a bank run?
Allaire’s Twitter thread came in response to a running rumor by a Twitter user, Geralt Davidson, claiming that Circle has lost billions of dollars over the years as it injected high incentives for crypto-oriented banks such as Signature and Silvergate to convert their cash deposits into USDC.
In addition, USDC lendings, being exposed to troubled companies like Genesis, BlockFi, Celsius, Galaxy, and 3AC, have caused Circle at risk of a bank run as billions of USDC won’t be returned in time, Davidson added.
Source https://cryptopotato.com/circle-ceo-refutes-rumor-of-usdc-collapse-due-to-exposure-to-troubled-firms/
Also, this is something I have mentioned on July about USDC.
https://bitcointalksearch.org/topic/m.60497154
Allaire’s Twitter thread came in response to a running rumor by a Twitter user, Geralt Davidson, claiming that Circle has lost billions of dollars over the years as it injected high incentives for crypto-oriented banks such as Signature and Silvergate to convert their cash deposits into USDC.
In addition, USDC lendings, being exposed to troubled companies like Genesis, BlockFi, Celsius, Galaxy, and 3AC, have caused Circle at risk of a bank run as billions of USDC won’t be returned in time, Davidson added.
Source https://cryptopotato.com/circle-ceo-refutes-rumor-of-usdc-collapse-due-to-exposure-to-troubled-firms/
Also, this is something I have mentioned on July about USDC.
https://bitcointalksearch.org/topic/m.60497154
September 06, 2022, 03:07:13 PM
USDC rise is quite recent, USDT has also shrink quite a bit the last few months ($83b -> $67b). But even with an rate of 1:1.3 in their supply, USDT still has 3x the volume of BUSD on Binance (BTC pairs): https://coinranking.com/market
yes this maybe the current stat but it will change when they delist all other stablecoin pairs and have only either USDT or BUSD tading pairs for stablecoins. They are already "censoring" USDT trading pairs in the top gains or top losers list even when you check right now which is pretty annoying.it's quite clearly they are pushing hard for their shitcoins (BUSD and BNB)
September 06, 2022, 10:16:39 AM
Do you think there will come a time when Binance will stop supporting USDT so as to continue forcing people to use BUSD on their platform?
This was stinking shady move from binance and it could happen in future they will remove USDT or move it only to their network, but the way they are going they could even remove BTC on mainnet one day.They are obviously trying to push everything on their shit centralized bnb chain, because CZ and his friends can control, freeze and reverse any transactions there.
I would not trust binance exchange for anything this days, especially when we know they are faking most of their trading volume.
If they do that, then all hell will break loose. Lots of users and programs with Binance API integration depend on USDT, and these will all break if USDT is delisted, especially when not all exchanges support BUSD.
This is why they are trying to force everyone else to use busd crap.It's sAfU
September 06, 2022, 06:11:08 AM
Do you think there will come a time when Binance will stop supporting USDT so as to continue forcing people to use BUSD on their platform?
If they do that, then all hell will break loose. Lots of users and programs with Binance API integration depend on USDT, and these will all break if USDT is delisted, especially when not all exchanges support BUSD.
September 06, 2022, 02:16:06 AM
The second one is USDC, not USDT 
But wasn't market cap an useless parameter to measure?
It was a typo, I have changed it to USDC. Thanks. But wasn't market cap an useless parameter to measure?
Do you think there will come a time when Binance will stop supporting USDT so as to continue forcing people to use BUSD on their platform?
No unless Tether and USDT was ordered by the government to be shutdown. Binance is only trying to use a similar strategy as FTX, I reckon. In FTX all of your deposited USDC, TUSD, BUSD and USDP are called just USD in the platform, however, the exchange uses USDC is their main dollar derivative for liquidity. However, if you withdraw you can still withdraw through USDC, TUSD, BUSD and USDP. USDT in FTX is separate and still called USDT.
USDC rise is quite recent, USDT has also shrink quite a bit the last few months ($83b -> $67b). But even with an rate of 1:1.3 in their supply, USDT still has 3x the volume of BUSD on Binance (BTC pairs): https://coinranking.com/market
This is what I found out today, not quite long. Not about the stable coins trading volume, but about the total Binance holding of the stable coins, also included how some USDC has been converted to BUSD by Binance last month. You can check it out on Cointelegraph, in the below link:https://cointelegraph.com/news/binance-no-plans-to-auto-convert-tether-though-that-may-change
Do you think there will come a time when Binance will stop supporting USDT so as to continue forcing people to use BUSD on their platform?
Never mind that I quote you again, but this is worth to be read:Quote
In a statement to Cointelegraph, a Binance spokesperson confirmed there were no immediate plans to do the same to USDT, but noted that this could change, stating:
“We do not have plans to auto-convert USDT to BUSD as of now, but may change.”
The spokesperson also confirmed that the auto-conversion and move to cease most trading services for USDC is “not a temporary measure,” and that it “will continue.”
“We do not have plans to auto-convert USDT to BUSD as of now, but may change.”
The spokesperson also confirmed that the auto-conversion and move to cease most trading services for USDC is “not a temporary measure,” and that it “will continue.”
September 06, 2022, 02:08:25 AM
@NeuroticFish. The cryptospace was hyperdollarized by USDT. Before 2017, much of the exchanges listed their much of their altcoin trading pairs against bitcoin.
You're right. This also helped to keep very low value altcoins on trade, where bitcoin 8 digits after decimal point wouldn't have suffice.
Also I've checked now how many trade pairs USDT has on Binance and I was surprised - they're more than BUSD or BNB, probably more than BTC too - then it struck me: binance.com has no USD and the replacement was (and is!) USDT.
So yes, we have now a much better answer to OP question.
September 06, 2022, 01:31:56 AM
@bittraffic. There would be no difference. The trading pairs representing as USD will be listed as BUSD. It is similar to FTX as I mentioned already. The only difference is FTX uses USDC as their main stablecoin and listed it as USD. Howevever, you can still deposit BUSD, TUSD and USDP and it will be autoconverted to USDC.
@NeuroticFish. The cryptospace was hyperdollarized by USDT. Before 2017, much of the exchanges listed their much of their altcoin trading pairs against bitcoin.
@NeuroticFish. The cryptospace was hyperdollarized by USDT. Before 2017, much of the exchanges listed their much of their altcoin trading pairs against bitcoin.
September 06, 2022, 01:16:43 AM
According to the news, we still could deposit USDC or TUSD but it will automatically be converted to BUSD in the platform. Its like they are forcing BUSD on all traders in Binance.
But then anyway, I don't see the difference if they want traders to use BUSD. How does it affects traders when they're only using BUSD or Is it for Binance market manipulation?
September 06, 2022, 12:25:46 AM
Do you think there will come a time when Binance will stop supporting USDT so as to continue forcing people to use BUSD on their platform?
That would be wishful thinking.
Maybe somebody has the numbers about how much USDT is transferred in and out of Binance on a daily basis, but I have a feeling the numbers may be bigger than for fiat. And then delisting USDT would be an awfully bad business.
According to Coinmarketcap: https://coinmarketcap.com/
USDT marketcap is $67.55 billion
USDT marketcap is $51.86 billion
BUSD marketcap is $44.45 billion
USDT marketcap is $67.55 billion
USDT marketcap is $51.86 billion
BUSD marketcap is $44.45 billion
The second one is USDC, not USDT
But wasn't market cap an useless parameter to measure?
September 05, 2022, 11:47:59 PM
Do you think there will come a time when Binance will stop supporting USDT so as to continue forcing people to use BUSD on their platform?
No unless Tether and USDT was ordered by the government to be shutdown. Binance is only trying to use a similar strategy as FTX, I reckon. In FTX all of your deposited USDC, TUSD, BUSD and USDP are called just USD in the platform, however, the exchange uses USDC is their main dollar derivative for liquidity. However, if you withdraw you can still withdraw through USDC, TUSD, BUSD and USDP. USDT in FTX is separate and still called USDT.
September 05, 2022, 07:26:27 PM
Most traders uses USDT, but if BUSD has $44.45 billion market, mainly traded on Binance, you know what that means. Binance is not more after liquidity in my opinion, Binance is after something else which is obviously clear.
USDC rise is quite recent, USDT has also shrink quite a bit the last few months ($83b -> $67b). But even with an rate of 1:1.3 in their supply, USDT still has 3x the volume of BUSD on Binance (BTC pairs): https://coinranking.com/market September 05, 2022, 06:58:12 PM
I highly doubt they would do that. USDT is a major pillar of the ecossystem and most of the volume is still in USDT in most exchanges. Unless it shrinks A LOT, they won't ever remove it or that could cause some panic or put fire into the conspiracies that they are insolvent or a scam.
Most traders use USDT and the remaining (specially those who don't fully trust USDT) are spread between the other stablecoins (USDC and BUSD), so it's actually smart that they did that.
According to Coinmarketcap: https://coinmarketcap.com/Most traders use USDT and the remaining (specially those who don't fully trust USDT) are spread between the other stablecoins (USDC and BUSD), so it's actually smart that they did that.
USDT marketcap is $67.55 billion
USDC marketcap is $51.86 billion
BUSD marketcap is $19.92 billion
How about USCD? It is also traded on many exchanges. If Binance can do that for USDC, it may not just want to do it at once, it can also do it for USDT. But maybe not yet because USDT is the main trading pair on Binance, but Binance is already working against that.
Most traders uses USDT, but if BUSD has $44.45 billion market, mainly traded on Binance, you know what that means. Binance is not more after liquidity in my opinion, Binance is after something else which is obviously clear.
September 05, 2022, 06:23:43 PM
Do you think there will come a time when Binance will stop supporting USDT so as to continue forcing people to use BUSD on their platform?
I highly doubt they would do that. USDT is a major pillar of the ecossystem and most of the volume is still in USDT in most exchanges. Unless it shrinks A LOT, they won't ever remove it or that could cause some panic or put fire into the conspiracies that they are insolvent or a scam.Most traders use USDT and the remaining (specially those who don't fully trust USDT) are spread between the other stablecoins (USDC and BUSD), so it's actually smart that they did that.
Jump to: