LONDON : Binance's stablecoin, Binance USD, has seen around $6 billion of outflows following a U.S. regulatory crackdown on the company that issues the token, according to market tracker CoinGecko.Paxos Trust Company, which issues Binance USD, said on Feb. 13 that the U.S. Securities and Exchange Commissi
LONDON : Binance's stablecoin, Binance USD, has seen around $6 billion of outflows following a U.S. regulatory crackdown on the company that issues the token, according to market tracker CoinGecko.
On the same day, New York's chief financial regulator said in a consumer alert that it had ordered Paxos to stop creating the token. Binance CEO Changpeng Zhao said that the regulator's decision meant the market cap of the token would decrease over time.
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