Coinbase Delists BUSD- Blow to Binance in ‚Stablecoin Wars‘

• Coinbase Delists BUSD, dealing a blow to Binance in stablecoin wars
• Troubles for BUSD began after Circle issued a complaint against it to New York regulators
• Binance has been trying to distance itself from Paxos and BUSD following the regulatory order

Coinbase Delists BUSD

Binance competitor Coinbase is the first major exchange to drop BUSD. The US-based exchange became the first player to delist BUSD after New York regulators banned its issuance. „We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on our most recent reviews, Coinbase will suspend trading for Binance USD (BUSD) on March 13, 2023,“ the exchange wrote.

Blow To Binance In ‚Stablecoin Wars‘

Stablecoin wars are heating up, with exchanges fighting for dominance over the lucrative market. The latest development saw Coinbase dealing another blow to Binance-linked BUSD. Since then, Binance has been downplaying its involvement with the stablecoin.

Trouble For BUSD After Complaint By Circle

Trouble for BUSD came after Coinbase’s partner Circle reportedly issued a complaint to a New York regulator against BUSD issuer Paxos and Binance. According to Forbes, Circle alleged that Binance did not have enough reserves to cover all