Why Coinbase delisted Binance Stablecoin- Armstrong

The CEO of renowned cryptocurrency exchange, Coinbase, Brian Armstrong says that it delisted Binance USD due to liquidity concerns.

 

Armstrong stated this when he appeared on Bloomberg TV.

 

“The reason we did that was that Paxos, the issuer of BUSD, had been ordered to stop minting it, so we were concerned about liquidity issues for our customers,” Armstrong told Bloomberg.

 

Reports indicate that Paxos had been ordered by New York Regulators to stop minting the token due to issues concerning the relationship between Binance and the issuer.

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
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Ethereum3,541.8 0.08 % 3.90 % 0.19 %
Tether0.9998 0.01 % 0.01 % 0.02 %
BNB597.55 0.70 % 2.55 % 2.20 %
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