Binance’s stablecoin, Binance USD, has seen around $6-billion of outflows following a US regulatory crackdown on the company that issues the token.
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New York’s chief financial regulator has ordered Paxos, the company behind the stablecoin of major crypto exchange Binance, to stop issuing the token.
Promoted | Welcome to part four of the series of articles from Revix designed to help you understand the flow of money through different types of crypto assets.
Promoted | Binance is not only the world’s largest cryptocurrency exchange, it’s also a blockchain that is competing with ethereum, solana and cardano for dominance in smart contracts.
Promoted | While solana grabs all the limelight, Binance’s cryptocurrency is slowly growing in the shadows.
Cryptocurrency exchange Binance plans to double its compliance team by year’s end and said it will “humbly welcome more capable talent” as it faces a blizzard of global regulatory probes.
Binance coin has strengthened its position as one of the world’s largest cryptocurrencies after a 53% rally in the past seven days to the third spot behind bitcoin and ether.