© Reuters Coinbase Delists BUSD: Blow to Binance in ‘Stablecoin Wars’
- Binance competitor Coinbase (NASDAQ:) is the first major exchange to drop BUSD.
- BUSD is in trouble after Coinbaseâs partner Circle reportedly issued a complaint against it to New York regulators. Coinbase and Circle are joint issuers of USDC stablecoin.
- New York regulators targeted BUSD for liquidation. Since then, Binance has been downplaying its involvement with the stablecoin.
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. The US-based exchange became the first player to delist BUSD after New York regulators banned its issuance.
âWe 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,…