ChainCatcher news, Tom Wan, the data director of Entropy Advisors, posted on the X platform that BUSD was once the third-largest stablecoin by market capitalization, reaching $23 billion, but currently has a market cap of only about $50 million on the Ethereum chain.BUSD is a dollar-backed stablecoin issued by Paxos Trust Company and approved by the New York State Department of Financial Services (NYDFS). Today, Zhao Changpeng stated, "BUSD is an excellent dollar stablecoin, but it has been stifled in the U.S. Operation Chokepoint 2.0. On the bright side, many new stablecoins are now being launched on BSC."

ChainCatcher news, Binance founder Zhao Changpeng responded to community inquiries about the stablecoin BUSD on the X platform, stating: "BUSD is an excellent dollar stablecoin, but it has been stifled by the Operation Chokepoint 2.0 initiative in the U.S. On the bright side, many new stablecoins are now being launched on BSC."(Note: Operation Chokepoint 2.0 is a liquidation initiative led by the Biden administration targeting the cryptocurrency industry, resulting in U.S. financial institutions not cooperating or providing services related to cryptocurrency projects.)

ChainCatcher news reports that according to Shield monitoring, an address starting with 0x0722 has fallen victim to a zero transfer scam, losing 10,000 BUSD stablecoins.It is reported that in the "zero transfer phishing attack," the attacker uses an address that has the same first and last letters or numbers as the target address (with only the middle letters differing) to transfer 0 tokens to complete the "poisoning" action. Users, due to negligence or because some dApps prioritize UI aesthetics and omit parts of the address, can easily confuse the hacker's address with the address they originally intended to transfer to, resulting in assets being transferred to the hacker's address.

ChainCatcher news, according to Fortune magazine, the U.S. Securities and Exchange Commission has decided to end its investigation into New York stablecoin issuer Paxos, determining that BUSD is not a security.On July 9, Jorge Tenreiro, acting head of the crypto assets and cyber unit, stated in a letter to Fortune that he had no intention of recommending enforcement action. Over the past year, the SEC had issued a Wells notice to Paxos, which is a notification that enforcement action is forthcoming, regarding Paxos's partnership with Binance to issue the dollar-backed BUSD stablecoin.Paxos's Chief Strategy Officer Walter Hessert said in an interview, "The formal termination of this investigation is a huge relief for us. This has been our expectation all along, and it should indeed create more certainty in the market, as we see more and more large enterprises joining."

ChainCatcher message, Binance announced that the BUSD token balances of all eligible users have been converted to FDUSD tokens (1 BUSD = 1 FDUSD). Additionally, the BUSD token deposit service has been restored, and users can continue to deposit BUSD tokens, but the withdrawal service for BUSD tokens will no longer be supported.

ChainCatcher message, Binance tweeted that it will exchange Binance-Peg BUSD collateral assets for FDUSD at a 1:1 ratio later today.

ChainCatcher message, Venus Protocol posted on platform X that BUSD is now entering the final deprecation phase, therefore, the collateral factor (CF) will be reduced. To ensure a smooth transition and prevent potential liquidations, users are strongly advised to address any outstanding loans using BUSD as collateral as soon as possible, and to immediately withdraw their BUSD supply on Venus and exchange it for other stablecoins.

ChainCatcher news, according to the official announcement, Binance has announced that it will stop supporting BUSD products on December 15, 2023. Binance reminds users to withdraw their BUSD holdings or convert their BUSD assets to other assets supported by the Binance platform before December 15, 2023.Users can trade their BUSD assets for FDUSD on the Binance spot market with zero fees, or exchange their BUSD assets for FDUSD at a 1:1 ratio on the swap trading platform.Starting from December 31, 2023, 11:00 AM (UTC+8), BUSD withdrawal services will be halted, and the BUSD balance in users' Binance accounts (excluding users from Japan, France, Italy, Poland, and Kazakhstan) will be automatically converted to FDUSD at a 1:1 ratio. After that, users can still deposit BUSD to Binance and manually convert their BUSD to FDUSD at a 1:1 ratio until further notice. It is expected that the collateral assets of Binance-Peg BUSD will be converted to FDUSD at a 1:1 ratio around December 2023. An announcement will be made to users when the conversion of collateral assets is fully completed.

ChainCatcher message, Binance leverage will remove the BTC/BUSD and ETH/BUSD cross-margin and isolated-margin trading pairs on December 7, 2023, at 14:00. The isolated-margin lending services for the above trading pairs will be suspended. Binance will automatically close and liquidate the cross-margin and isolated-margin positions for the above trading pairs and cancel all user orders in the above trading pairs. Subsequently, the above trading pairs will be delisted from the leverage platform.

ChainCatcher news, according to the official announcement, Binance will remove the following spot trading pairs and stop trading on November 24, 2023, at 11:00 (UTC+8): APT/BUSD, AXS/BUSD, BAKE/BUSD, CFX/BUSD, CHZ/BUSD, ETC/BUSD, FIL/BUSD, GAS/BUSD, TRB/BUSD, USTC/BUSD.

ChainCatcher news, the crypto-friendly travel booking platform Travala.com announced that it will stop supporting BUSD on January 1, 2024. Users can withdraw BUSD before 15:00 Beijing time on January 1, 2024, and if not withdrawn, it will be automatically converted to travel credits at a rate of 1 BUSD equals 1 travel credit.

ChainCatcher news, according to the official announcement, Binance will delist some BUSD spot trading pairs. The specific information is as follows:November 3, 2023 03:00 (UTC): CAKE/BUSD, COMP/BUSD, CRV/BUSD, EOS/BUSD, FIDA/BUSD, FLOW/BUSD, GLMR/BUSD, GRT/BUSD, HFT/BUSD, ICP/BUSD, KEY/BUSD, LDO/BUSD, LEVER/BUSDNovember 3, 2023 05:00 (UTC): MAGIC/BUSD, MASK/BUSD, MKR/BUSD, MULTI/BUSD, OG/BUSD, PHB/BUSD, PYR/BUSD, SANTOS/BUSD, T/BUSD, UNI/BUSD, XMR/BUSD, XVG/BUSD

ChainCatcher message, Binance announced that it will delist a series of BUSD trading pairs, encouraging users to convert their BUSD assets into other available assets on Binance before February 2024.According to the announcement, Binance will delist the trading pairs ACH/BUSD, ARPA/BUSD, BETA/BUSD, CELO/BUSD, CHR/BUSD, DREP/BUSD, EDU/EUR, ENJ/BUSD, GTC/BUSD, HOOK/BUSD, ID/EUR, IDEX/BUSD, IMX/BUSD, IOTX/BUSD, JASMY/BUSD at 15:00 on October 27; and KAVA/BUSD, LPT/BUSD, MTL/BUSD, NEO/BNB, PHA/BUSD, POND/BUSD, REEF/BUSD, RPL/BUSD, SAND/BUSD, SUSHI/BNB, THETA/EUR, TOMO/BUSD, UNFI/BUSD, WING/BUSD, WRX/BUSD at 16:00 on October 27.

ChainCatcher news, according to PeckShield monitoring, the attacker of the DEX platform Uranium Finance on the BNB Chain has exchanged approximately 3.12 million BUSD for about 1,946 ETH and approximately 35,500 USDT and USDC through LI.FI and Stargate.

ChainCatcher news, the DeFi protocol dForce announced that it will stop supporting BUSD on its lending protocol across all supported L1 and L2 chains based on the results of proposal DIP052.

According to ChainCatcher news and the official announcement, Binance's borrowing service (spot interest rate) will close all outstanding BUSD borrowing and collateral positions on October 25, 2023, at 16:00 (UTC+8). Users are advised to repay all affected borrowing orders before October 25, 2023, at 15:59 (UTC+8) to avoid potential losses.

ChainCatcher message, Binance announces the addition and removal of certain spot trading pairs:Starting from September 22, 2023, at 16:00, Binance will launch the spot trading pairs ARK/USDT, CREAM/USDT, FTT/USDT, GFT/USDT, IQ/USDT, and USDT/VAI;Starting from September 29, 2023, at 11:00, Binance will remove and cease the spot trading pairs ARK/BUSD, CREAM/BUSD, FTT/BUSD, GFT/BUSD, IQ/BUSD, and BUSD/VAI.

ChainCatcher news, according to the official announcement, Binance has announced the removal of the following spot trading pairs: 2023-09-22 03:00 (UTC): ACA/BUSD, ALPHA/BUSD, ALPINE/BUSD, ANT/BUSD, ASR/BUSD; 2023-09-22 05:00 (UTC): ATM/BUSD, BAL/BUSD, DGB/BUSD, FIRO/BUSD, GAL/BUSD; 2023-09-22 07:00 (UTC): OOKI/BUSD, PORTO/BUSD, PSG/BUSD, RVN/BUSD, TWT/BUSD.

ChainCatcher message, according to the official Binance APP notification, Binance will stop supporting BUSD in 2024. Paxos will end BUSD redemptions before February 2024, and Binance will gradually cease support for BUSD at that time.