SINGAPORE : About $2.5 billion flowed out from Binance's stablecoin this week, Binance's CEO said on Twitter, after U.S. regulators turned their sights on the cryptocurrency.Most of the money has moved from Binance USD into Tether, another so-called stablecoin where tokens have a $1 value, Binance boss Ch
SINGAPORE : About $2.5 billion flowed out from Binance's stablecoin this week, Binance's CEO said on Twitter, after U.S. regulators turned their sights on the cryptocurrency.
Stablecoins are used for trading between crypto tokens and between crypto and traditional assets. Binance USD is the third-biggest stablecoin behind Tether and USD Coin. On Monday the New York Department of Financial Services said it ordered the firm behind Binance USD, Paxos Trust Company, to stop minting the tokens. Paxos said it was also told by the U.S. Securities and Exchange Commission that the firm, which is based in New York, should have registered the stablecoin product as a security.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Top Singapore golfer Amanda Tan to compete in HSBC Women’s World Championship - Singapore News23-year-old Tan will be competing with the world’s top five players, namely Lydia Ko, Nelly Korda, Minjee Lee, Atthaya Thitikul and defending champion Ko Jin-young
Read more »
Singapore to host World Aquatics Championships 2025 - Singapore NewsThe announcement was made by the World Aquatics governing body on Feb 9 and the venue was originally to be in Kazan, Russia but was changed after the Russian invasion of Ukraine
Read more »
Singapore Premier League: VAR ready for use in Community Shield - Albirex vs Hougang - Singapore NewsThe Football Association of Singapore announced that the VAR received the green light after passing a final assessment by FIFA, which comes after an implementation process that began in February 2022.
Read more »
Exclusive-Crypto giant Binance moved $400 million from US partner to firm managed by CEO ZhaoGlobal cryptocurrency exchange Binance had secret access to a bank account belonging to its purportedly independent U.S. partner and transferred large sums of money from the account to a trading firm managed by Binance CEO Changpeng Zhao, banking records and company messages show.Over the first three mont
Read more »
Crypto giant Binance moved US$400 million from US partner to firm managed by CEO ZhaoGlobal cryptocurrency exchange Binance had secret access to a bank account belonging to its purportedly independent US partner and transferred large sums of money from the account to a trading firm managed by Binance CEO Changpeng Zhao, banking records and company messages show. Over the first three months
Read more »
Asia shares skid as rate-hike fears unnerve investorsSINGAPORE : Asian equities slipped on Friday, while the dollar hovered around six-week highs as economic data and hawkish comments from Federal Reserve officials revived fears that the U.S. central bank will stick to its monetary tightening path.Data from U.S. Labor Department overnight showed monthly pro
Read more »