Btw, Im just curious whom do you guys support if you wanna have stables (just for trading purpose)? USDC or BUSD ? Im pretty confused but I do use binance myself here currently.
If someone really forced me to decide, I would probably chose USDT over either of those as it seems least likely to go down. At this point, having anything in stablecoins is very risky, especially if you are hodling it for more than a day or two. 
Topic: Coinbase to Suspend Binance USD (BUSD) Trading (Read 262 times)
So, does this now mean that binance and coinbase are no longer friends and won't support each other in any further crisis in the future ? The crypto space is gonna get divided badly
I'm not sure how they become friends in the first place. I'm pretty sure if one of them goes down the other would just happily use that opportunity to increase its dominance in the market. Btw, Im just curious whom do you guys support if you wanna have stables (just for trading purpose)? USDC or BUSD ? Im pretty confused but I do use binance myself here currently.
To be honest, all of them are shady as hell. If it is limited to those two maybe USDC is better, not to mention it has larger volumes in my preferred exchanges. Other than that, maybe USDT if it is not yet dead by the time I need to swap to stablecoin. That being said, trading BTC and altcoin directly is probably the best way to do it if liquidity is good enough to do that, no more hopping around stablecoins that can go down anytime.
Seems like coinbase have officially removed BUSD pair trading starting today according to their most recent tweet.
So, does this now mean that binance and coinbase are no longer friends and won't support each other in any further crisis in the future ?
I think it has more to do Paxos not being able to mint BUSD anymore than Coinbase trying to hurt Binance. Since BUSD has no future and users are ditching it, it makes sense for Coinbase to remove it completely. After all, CZ also announced that Binance will have to move away from BUSD and start removing BUSD trading pairs eventually. So, does this now mean that binance and coinbase are no longer friends and won't support each other in any further crisis in the future ?
Btw, Im just curious whom do you guys support if you wanna have stables (just for trading purpose)? USDC or BUSD ? Im pretty confused but I do use binance myself here currently.
If someone really forced me to decide, I would probably chose USDT over either of those as it seems least likely to go down. At this point, having anything in stablecoins is very risky, especially if you are hodling it for more than a day or two. 
Seems like coinbase have officially removed BUSD pair trading starting today according to their most recent tweet.
So, does this now mean that binance and coinbase are no longer friends and won't support each other in any further crisis in the future ? The crypto space is gonna get divided badly 😅
Btw, Im just curious whom do you guys support if you wanna have stables (just for trading purpose)? USDC or BUSD ? Im pretty confused but I do use binance myself here currently.
So, does this now mean that binance and coinbase are no longer friends and won't support each other in any further crisis in the future ? The crypto space is gonna get divided badly 😅
Btw, Im just curious whom do you guys support if you wanna have stables (just for trading purpose)? USDC or BUSD ? Im pretty confused but I do use binance myself here currently.
Also, CZ should start asking for assistance from his backers from China.
Because you mentioned China here,is it possible that what Binance is experiencing is some government stretching it's invisible handle to try and send a message to its other counterpart... Something we have seen in the Huawei China trade war.And of all exchanges why are other exchanges delisting Binance assets when they too have their utility tokens listed on other exchanges, and btw Coinbase isn't the first to do this either,there is a long list of exchanges delisting them.
I very much agree that there is someone who is sending CZ a message and it might be someone from the American government or from the American side of the cryptospace industry. It might be the backers of Sam Bankrupt-Fraud from the Democratic party hehe? CZ was the one who triggered the liquidity cascade for Alameda Research's loans backed by FTT as collateral and this also brought down FTX. Someone might want revenge against CZ hehehe.
And of all exchanges why are other exchanges delisting Binance assets when they too have their utility tokens listed on other exchanges, and btw Coinbase isn't the first to do this either,there is a long list of exchanges delisting them.
Apart from BUSD whose future is uncertain (You know when SEC barks, most of this crypto exchanges back off, they don't want to find themselves on the wrong side of SEC), what other Binance assets are being delisted by other exchanges?As far as I know, Binance are the ones who started by it delisting rival stablecoins apart from USDT and then karma hit back, but then now Coinbase are having their own bit of karma
Some exchanges do even support Binance's utility token BNB, but you won't find binance supporting most rival exchange utility tokens for example, Kucoin does support BNB but Binance does not support Kucoin shares (KCS), Bybit supports BNB but Binance doesn't support Bit token.
Also, CZ should start asking for assistance from his backers from China.
Because you mentioned China here,is it possible that what Binance is experiencing is some government stretching it's invisible handle to try and send a message to its other counterpart... Something we have seen in the Huawei China trade war.And of all exchanges why are other exchanges delisting Binance assets when they too have their utility tokens listed on other exchanges, and btw Coinbase isn't the first to do this either,there is a long list of exchanges delisting them.
Are you aware that Binance stopped supporting USDC on their platform somewhere in September last year?
While he probably wasn't aware of the initial removal of USDC from Binance, but since two days ago you can trade BNB/USDC, ETH/USDC and BTC/USDC pairs again so they did change their stance on it.Source: https://www.binance.com/en/support/announcement/binance-adds-bnb-usdc-btc-usdc-eth-usdc-trading-pairs-0f1a3f8a7af640b6bd296752ec3d0ada
Binance itself began to rely more on USDC and USDT,
Relying more on USDC? 
Are you aware that Binance stopped supporting USDC on their platform somewhere in September last year?
I am not assuming that Binance was responsible for the depeg of USDC, however, it is speculated that the depeg going below $0.90 were the manipulations created by the whales to trick USDC holders into converting USDC to other stablecoins. I reckon if someone wanted to take advantage of this crisis and to send a message to Brian Armstrong and the whole cryptospace who is the king, it might be CZ. It is well recognized that USDC is Coinbase's first choice.
If this is proven, I will also not be shocked to know that Justin Sun helped CZ.
But the "manipulations" happened right after circle confirmed that they have some funds locked up in the troubled Silicon Valley bank. Why didn't the manipulations happen last year or in Jan?If this is proven, I will also not be shocked to know that Justin Sun helped CZ.
Because it was just actually people reacting to the news and confirmation from circle… Not just Binance or Justin Sun trying to manipulate.
Binance itself began to rely more on USDC and USDT, and therefore the end result is that more and more companies will not think in the short term to create new stableCOINs.
ALL stablecoins Marketcap will be limited to one or two coins.
the question remains: if an estimated percentage of the reserves was in BUSD form, can they fulfill their commitment and give a dollar to everyone who wants to exchange it? Who will bear the losses?
Binance must stop expanding until they completely finished removing BUSD effects.
Why do they keep increasing the supply if there is no demand for it which shows people are interes in BUSD because of the reputation behind Binance however we should never rely on reputation and trust will not work all the time in decentralisation so the users should realise the risk behind holding stable coins and start converting them into bitcoin or atleast fiat as early as possible. ALL stablecoins Marketcap will be limited to one or two coins.
the question remains: if an estimated percentage of the reserves was in BUSD form, can they fulfill their commitment and give a dollar to everyone who wants to exchange it? Who will bear the losses?
Binance must stop expanding until they completely finished removing BUSD effects.
I am not assuming that Binance was responsible for the depeg of USDC, however, it is speculated that the depeg going below $0.90 were the manipulations created by the whales to trick USDC holders into converting USDC to other stablecoins. I reckon if someone wanted to take advantage of this crisis and to send a message to Brian Armstrong and the whole cryptospace who is the king, it might be CZ. It is well recognized that USDC is Coinbase's first choice.
If this is proven, I will also not be shocked to know that Justin Sun helped CZ.
If this is proven, I will also not be shocked to know that Justin Sun helped CZ.
Binance itself began to rely more on USDC and USDT, and therefore the end result is that more and more companies will not think in the short term to create new stableCOINs.
ALL stablecoins Marketcap will be limited to one or two coins.
the question remains: if an estimated percentage of the reserves was in BUSD form, can they fulfill their commitment and give a dollar to everyone who wants to exchange it? Who will bear the losses?
Binance must stop expanding until they completely finished removing BUSD effects.
ALL stablecoins Marketcap will be limited to one or two coins.
the question remains: if an estimated percentage of the reserves was in BUSD form, can they fulfill their commitment and give a dollar to everyone who wants to exchange it? Who will bear the losses?
Binance must stop expanding until they completely finished removing BUSD effects.
Unfortunately it's not enough to destroy Binance because BUSD traded in Coinbase is really small, it's only 0.01% in the last 24 hours volume [1] BUSD are mostly used in Binance and the most important thing BUSD is an unofficial stable coin in Binance, because it was issued by Paxos, not from Binance.
In this industry, the players (exchanges) are out not only to outdo each other and be superior but to literally destroy each other as well, it seems.
I still think the exchange industry should be regulated given that they have applied every conceivable KYC check on users but they themselves have no checks and balances.
After all, they are all in business, and in business, it is not unusual to find ways to destroy each other's competitors. Like the cryptocurrency market, money is not born on its own but is moved from the weak hands to the diamond hands, the strong will be the winners. That means when we win, there will be losers.
Given what happened, it's only a matter of time before BUSD is shut down, and it doesn't affect Binance at all. Not only is Binance moving towards TUSD, but it is also reported that they are looking for partners to produce stable coins pegged to JPY or AUD.
This was kinda expected after everything that has happened lately with Paxos and BUSD. I mean, even CZ announced that Binance will simply have to move away from BUSD eventually so no surprise that their biggest competition is already doing that, especially since they have their own stablecoin.
Yep, that sounds plausible. Anyway, it's a pretty interesting development if you ask me. Especially in light of the fact that a few days ago Circle's new stablecoin EUROC went live on Coinbase.
Source: https://www.coinbase.com/how-to-buy/euro-coin
It seems as if Coinbase want to protect themselves against possible regulatory uncertainties, but on the other hand also push their own coins. At least it looks like Coinbase is not afraid of the SEC, because the SEC is not only targeting BUSD, but also other stablecoins.
Unfortunately it's not enough to destroy Binance because BUSD traded in Coinbase is really small, it's only 0.01% in the last 24 hours volume [1] BUSD are mostly used in Binance and the most important thing BUSD is an unofficial stable coin in Binance, because it was issued by Paxos, not from Binance.
There's a news where Binance have minted 50 Millions TrueUSD (TUSD) [2], so my prediction TUSD will replace BUSD in the future. If everyone else still holding BUSD, it's better to convert it to other stable coin.
[1] https://www.coingecko.com/en/coins/binance-usd#markets
[2] https://blockchair.com/news/binance-mints-50m-trueusd-days-after-paxos-ordered-stop-issuing-busd--c58940db66
There's a news where Binance have minted 50 Millions TrueUSD (TUSD) [2], so my prediction TUSD will replace BUSD in the future. If everyone else still holding BUSD, it's better to convert it to other stable coin.
[1] https://www.coingecko.com/en/coins/binance-usd#markets
[2] https://blockchair.com/news/binance-mints-50m-trueusd-days-after-paxos-ordered-stop-issuing-busd--c58940db66
Agreed, however, this is not about the amount of liquidity of BUSD in the exchange. This is about the recognition of trust on BUSD. Coinbase made it appear to everyone in the cryptospace that BUSD is not trustworthy. Look at the market capitalization of BUSD. It is down $5 billion since announcement from Paxos. Tether is up $4 billion and USDC is up $1 billion hehehe. The whales from the cryptospace think Tether is the most trustworthy stablecoin?
The exact reason for the delisting has not been mentioned. However, Coinbase stated that they regularly monitored the assets on the exchange to ensure they met the listing standards.
If Binance itself distanced themselves from Binance USD not so long ago, then why should a competitor remain supporting it? Secondly, I think it's more of payback time for Binance delisting all the USDC trading pairs in their platform last year. I can tell that they have been eagerly waiting for the moment to have BUSD delisted from Coinbase, and the chance just presented itself.
Also, CZ should start asking for assistance from his backers from China.
CZ is looking more and more like a convict from Chinese prison with this new haircut and fake smile.I don't think his friends can help him this time.
This was kinda expected after everything that has happened lately with Paxos and BUSD. I mean, even CZ announced that Binance will simply have to move away from BUSD eventually so no surprise that their biggest competition is already doing that, especially since they have their own stablecoin.
I think Coinbase exchange will have big problems in future with shitcoin securities, so this BUSD doesn't mean anything if we look at bigger picture.Regulators are probably going to target all stablecoins in near future, maybe because they are making move for introducing of their CBDC slave currencies.
We are in big trouble if people don't realize this on time.... because you obviously wont be able to buy and sell anything without that junk.
This was kinda expected after everything that has happened lately with Paxos and BUSD. I mean, even CZ announced that Binance will simply have to move away from BUSD eventually so no surprise that their biggest competition is already doing that, especially since they have their own stablecoin.
Paxos was asked to stop issuing BUSD, and the stablecoin started slipping away from its peg. However, at press time, the BUSD has regained its peg.
This "loosing its peg" is imho slightly exaggerated because from what I can see, in the last two weeks BUSD didn't go below $0.990. I still think the exchange industry should be regulated given that they have applied every conceivable KYC check on users but they themselves have no checks and balances.
True. At the current state, crypto exchanges took the worst things from banks (and unfortunately that's how many see exchanges) while offering no protection to their users. 
Unfortunately it's not enough to destroy Binance because BUSD traded in Coinbase is really small, it's only 0.01% in the last 24 hours volume [1] BUSD are mostly used in Binance and the most important thing BUSD is an unofficial stable coin in Binance, because it was issued by Paxos, not from Binance.
In this industry, the players (exchanges) are out not only to outdo each other and be superior but to literally destroy each other as well, it seems.
I still think the exchange industry should be regulated given that they have applied every conceivable KYC check on users but they themselves have no checks and balances.
Unfortunately it's not enough to destroy Binance because BUSD traded in Coinbase is really small, it's only 0.01% in the last 24 hours volume [1] BUSD are mostly used in Binance and the most important thing BUSD is an unofficial stable coin in Binance, because it was issued by Paxos, not from Binance.
There's a news where Binance have minted 50 Millions TrueUSD (TUSD) [2], so my prediction TUSD will replace BUSD in the future. If everyone else still holding BUSD, it's better to convert it to other stable coin.
[1] https://www.coingecko.com/en/coins/binance-usd#markets
[2] https://blockchair.com/news/binance-mints-50m-trueusd-days-after-paxos-ordered-stop-issuing-busd--c58940db66
There's a news where Binance have minted 50 Millions TrueUSD (TUSD) [2], so my prediction TUSD will replace BUSD in the future. If everyone else still holding BUSD, it's better to convert it to other stable coin.
[1] https://www.coingecko.com/en/coins/binance-usd#markets
[2] https://blockchair.com/news/binance-mints-50m-trueusd-days-after-paxos-ordered-stop-issuing-busd--c58940db66
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