Binance-Ceases-BUSD-Support-By-February-2024-Report
Key Points:
Binance has announced that it will gradually cease support for BUSD products in favor of other stablecoins and digital assets on its platform. As Paxos has halted minting new BUSD, the exchange is encouraging users to convert their BUSD assets into other available assets prior to February 2024. BUSD will always be backed 1:1 by USD, so users should have no concerns in that regard.
Withdrawals of Binance-Peg BUSD tokens via BNB Chain, Avalanche, Polygon, and Tron networks will cease at @Next Thursday 00:00 (UTC). Deposits and withdrawals of BUSD (ERC-20) tokens via Ethereum network will continue to be supported until further notice. BUSD will also be delisted from various services at different times.
| Action | Date |
| Withdrawals of Binance-Peg BUSD tokens via BNB Chain, Avalanche, Polygon, and Tron networks | September 7, 2023 00:00 (UTC) |
| Deposits and withdrawals of BUSD (ERC-20) tokens via Ethereum network | Until further notice |
| Deposits of Binance-Peg BUSD tokens via BNB Chain, Avalanche, Polygon, and Tron networks | Until further notice |
| Users can manually convert their BUSD balances to FDUSD at a 1:1 ratio using Binance Convert | Until further notice |
| Simple Earn Flexible Products will stop offering BUSD subscriptions | October 13, 2023 04:00 (UTC) |
| Auto-Invest will discontinue BUSD plan subscriptions | September 15, 2023 02:00 (UTC) |
| Liquid Swap will gradually delist BUSD liquidity pools | N/A |
| Dual Investment will support BUSD | Until December 31, 2023 00:00 (UTC) |
| Flexible DeFi Staking will close all outstanding BUSD positions | September 14, 2023 06:00 (UTC) |
| BUSD will be delisted as a loanable asset from Binance Loans (Stable and Flexible Rates) and VIP Loan | September 6, 2023 04:00 (UTC) |
| BUSD will be delisted as a collateral asset from Binance Loans (Stable and Flexible Rates) | September 6, 2023 04:00 (UTC) |
| BUSD will be delisted as a collateral asset from VIP Loan | December 13, 2023 04:00 (UTC) |
| Binance Gift Card will delist BUSD | September 30, 2023 02:00 (UTC) |
| BUSD will be deactivated as an order currency within Pay Merchant Service | September 30, 2023 02:00 (UTC) |
| Binance will suspend BUSD borrowings on Cross Margin | September 7, 2023 06:00 (UTC) |
| Cross Margin and Portfolio Margin users won’t be able to transfer in additional BUSD as new collateral to Cross Margin Wallet | From October 19, 2023 06:00 (UTC) |
| BUSD-margined perpetual contracts will be delisted | N/A |
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Discover why Qubetics, NEAR Protocol, and Immutable X are the best altcoins to join today,…
BTFD Coin is offering a chance to relive the glory days of meme coin investing,…
Explore key takeaways from BlockDAG’s AMA, showcasing strides in scalability, growth of the ecosystem, and…
Discover why Qubetics, Polkadot, and Cosmos are the best cryptos with 1000X potential, offering innovation,…
Explore the best coins to buy in December 2024—Qubetics with its thrilling presale, Polkadot’s interoperability,…
The Crypto Market Outlook 2025 highlights key areas: stablecoin growth, tokenization, crypto ETFs, DeFi innovation,…
This website uses cookies.
