{"id":87652,"date":"2023-11-29T14:57:04","date_gmt":"2023-11-29T12:57:04","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=87652"},"modified":"2025-09-13T13:12:59","modified_gmt":"2025-09-13T10:12:59","slug":"binance-sets-delisting-date-for-the-busd-stablecoin","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/binance-sets-delisting-date-for-the-busd-stablecoin\/","title":{"rendered":"Binance Sets Delisting Date for the BUSD Stablecoin"},"content":{"rendered":"<p>The cryptocurrency exchange Binance will fully discontinue support for <a href=\"https:\/\/forklog.com\/en\/news\/what-are-stablecoins\">the stablecoin<\/a> BUSD and delist it on December 15.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">In accordance with past communications, <a href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&#038;ref_src=twsrc%5Etfw\">#Binance<\/a> will cease support for BUSD products starting on December 15, 2023.<\/p>\n<p>Users may trade or convert their BUSD balances for <a href=\"https:\/\/twitter.com\/search?q=%24FDUSD&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$FDUSD<\/a> at zero trading fees.<\/p>\n<p>Full details here ?<a href=\"https:\/\/t.co\/usRi09uOhi\">https:\/\/t.co\/usRi09uOhi<\/a><\/p>\n<p>\u2014 Binance (@binance) <a href=\"https:\/\/twitter.com\/binance\/status\/1729780402221465859?ref_src=twsrc%5Etfw\">November 29, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The company noted that the asset&#8217;s issuer Paxos has ceased issuing it. Redemption of the stablecoin will be available until February 2024.<\/p>\n<p>BUSD withdrawals will be disabled on December 31, after which user balances on the exchange (excluding Japan, France, Italy, Poland and Kazakhstan) will be automatically converted to FDUSD.<\/p>\n<p>In August, Binance <a href=\"https:\/\/forklog.com\/en\/news\/binance-to-discontinue-support-for-busd-in-2024\">announced<\/a> to customers its intention to discontinue support for BUSD. The company&#8217;s representatives cited the <span data-descr=\"New York State Department of Financial Services\" class=\"old_tooltip\">NYDFS<\/span> investigation into Paxos. In February the regulator ordered the firm <a href=\"https:\/\/forklog.com\/en\/news\/bloomberg-new-york-regulator-opens-investigation-into-paxos\">to halt the issuance of BUSD<\/a>.<\/p>\n<p>According to CoinGecko, the stablecoin&#8217;s market capitalisation had been shrinking since the end of 2022. Over the year, the figure fell from $22 billion to $1.7 billion.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/IzTg8StWtW4MzpwwBIWpxMh_s7OhTEV-TxVeTj9HwnuuArxF9AsmLlbkSSfg8d6ANcjY1FvBJYMV8lKz4IqOKIygdk1EJuzFQpKpX8GLYu09A--V0-xO12n6tVMiOOHyBchMfKMTkS3AWjAH0hKLJtY\" alt=\"Binance sets the delisting date for the BUSD stablecoin\"\/><figcaption class=\"wp-element-caption\">BUSD market capitalisation. Data: CoinGecko.<\/figcaption><\/figure>\n<p>On November 21, in a <a href=\"https:\/\/forklog.com\/en\/news\/media-changpeng-zhao-to-step-down-as-binance-to-pay-4-3-billion-in-penalties\">deal with the U.S. Department of Justice<\/a>, Binance agreed to pay $4.3 billion, and its founder Changpeng Zhao <a href=\"https:\/\/forklog.com\/en\/news\/changpeng-zhao-to-pay-50-million-under-u-s-doj-settlement\">to a $50 million fine<\/a> and to step down as chief executive.<\/p>\n<p>He <a href=\"https:\/\/forklog.com\/en\/news\/binance-founder-changpeng-zhao-released-on-175-million-bond\">posted a $175 million bail<\/a> to remain free until the verdict on February 23, 2024. Prosecutors <a href=\"https:\/\/forklog.com\/en\/news\/prosecutors-seek-to-bar-cz-from-leaving-the-united-states\">sought<\/a> a travel ban preventing him from leaving the United States, citing fears of flight. The entrepreneur faces <a href=\"https:\/\/forklog.com\/en\/news\/u-s-doj-changpeng-zhao-could-face-up-to-ten-years-in-prison\">up to ten years&#8217; imprisonment<\/a>.<\/p>\n<p>The judge <a href=\"https:\/\/forklog.com\/en\/news\/judge-bars-changpeng-zhao-from-leaving-the-united-states-until-verdict-is-delivered\">barred<\/a> Zhao from leaving the United States pending the DOJ&#8217;s motion.<\/p>\n<p>Following his resignation as chief executive, Binance was led by Richard Teng.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency exchange Binance will fully discontinue support for the BUSD stablecoin and delist it on December 15.<\/p>\n","protected":false},"author":1,"featured_media":87653,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,1625,807],"class_list":["post-87652","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-binance-usd-busd","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"38","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/87652","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=87652"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/87652\/revisions"}],"predecessor-version":[{"id":87654,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/87652\/revisions\/87654"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/87653"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=87652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=87652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=87652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}