Binance to 'Gradually' End Support for BUSD Products Source
Binance to 'Gradually' End Support for BUSD Products
Tag: Support
Binance pushes new stablecoin as it confirms plan to cease BUSD support
Crypto exchange Binance has encouraged users to start converting their Binance USD (BUSD) stablecoin holdings into a newly listed stablecoin amid plans to wind down support for BUSD. In an Aug. 31 statement from Binance, the crypto exchange confirmed prior speculation that it will gradually stop support for BUSD by February 2024 — a decision in line with Paxos’ plans to end BUSD redemption at that time. The official statement is the first time Binance has addressed the subject after several users shared screenshots of a pop-up on their mobile…
Ethereum Holds Uptrend Support And Could Aim Fresh Rally To $1,800
Ethereum price is correcting gains from the $1,750 resistance against the US Dollar. ETH is trading above the $1,680 support and might start a fresh increase. Ethereum started a downside correction below the $1,720 level. The price is trading above $1,690 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance near $1,705 on the hourly chart of ETH/USD (data feed via Kraken). The pair could soon start a fresh increase above $1,720 and $1,750. Ethereum Price Eyes Fresh Increase Ethereum’s price started a…
Binance To Delist Eight BUSD Trading Pairs Soon, End Full BUSD Support By 2024
The world’s largest exchange, Binance, has announced plans to delist eight Binance USD (BUSD) trading pairs as the company looks to withdraw full support of the stablecoin by 2024. This follows increased regulatory pressure on the stablecoin in 2023, which has led to a drastic decline in its market share so far. Binance To Delete Nine Margin Trading Pairs By September 7 In a blog post on Wednesday, Binance laid out intentions to delist eight BUSD cross margin and isolated trading pairs. These include AMB/BUSD, DASH/BUSD, FIDA/BUSD, HARD/BUSD, HOT/BUSD, NULS/BUSD,…
Ethereum Rally Loses Steam, Why ETH Could Revisit Resistance Turned Support
Ethereum price rallied above the $1,700 resistance against the US Dollar. ETH struggled near $1,750 and is currently correcting gains. Ethereum gained momentum above the $1,660 and $1,670 levels. The price is trading above $1,700 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance near $1,650 on the hourly chart of ETH/USD (data feed via Kraken). The pair is now correcting gains from the $1,750 resistance. Ethereum Price Rally Stalls Ethereum’s price was able to start a decent increase from the…
Indian Crypto Exchange CoinSwitch Lays Off 44 Employees from Customer Support Team
Indian cryptocurrency exchange CoinSwitch laid off 44 employees, about 7% of its total headcount, from its customer support team. The team still has about 82 members. The layoff took place about three weeks ago but came to light only recently, media reports said. Since April, CoinSwtich recruited about 60 people, mostly in product tech and compliance. Before the layoff, the crypto trading platform had 640 employees. A news report in Money Control quoted CoinSwtich’s spokesman saying customer queries have reduced significantly with plunging trading volumes, creating redundancy in the customer…
Indian Crypto Exchange CoinSwitch Cuts Support Team, Citing Market Doldrums
The crypto investment platform laid off 44 people, or nearly 7% of its employees, about three weeks ago. Source
Bitcoin traders pinpoint support levels as BTC price taps $26.2K
Bitcoin (BTC) recovered its weekly close losses on Aug. 28 as risk assets rose on China tax cuts. BTC/USD 1-hour chart. Source: TradingView BTC price 200-week EMA stands out as support Data from Cointelegraph Markets Pro and TradingView followed a BTC price uptick into the day’s Wall Street open. BTC/USD managed $26,226, marking its highest levels since Aug. 25 and fully compensating for weakness seen overnight. News that China had cut tax on stock trading by 50% appeared to buoy U.S. futures into the open. The S&P 500 and Nasdaq…
Top US Crypto Exchange Coinbase Says It Will Axe Trading Support for Multichain (MULTI) and Five Other Altcoins
Leading US-based cryptocurrency exchange Coinbase will suspend trading for the crypto asset of the bridging platform Multichain (MULTI) effective September 6th. The decision comes after Multichain advised its users to stop using its services. Earlier this year, the protocol announced that its team members couldn’t find the project’s CEO, Zhao Jun, amid technical issues. “The team has done everything possible to maintain the protocol running, but we are currently unable to contact CEO Zhaojun and obtain the necessary server access for maintenance.” Cybersecurity firm PeckShield also revealed last month that…
Here’s Why Arthur Hayes Is Not In Support Of A BlackRock Spot Bitcoin ETF
Many stakeholders in the crypto industry have welcomed the idea of traditional finance firms offering a Spot Bitcoin Exchange-Traded Fund (ETF) as they believe it will further drive crypto adoption. However, the former CEO and co-founder of crypto exchange BitMEX, Arthur Hayes, seems to be against the move. Problems With BlackRock Spot Bitcoin ETF Filing In a post published on his Substack platform, Hayes made his displeasure known regarding the recent wave of Spot Bitcoin ETF applications by prominent traditional financial (TradFi) institutions, including BlackRock. Contrary to public opinion, he…