{"id":20512,"date":"2023-02-14T11:15:13","date_gmt":"2023-02-14T19:15:13","guid":{"rendered":"https:\/\/coinnetworknews.com\/stablecoin-issuer-paxos-burns-700m-binance-usd-in-27-hours-amid-regulatory-pressure\/"},"modified":"2023-02-14T11:15:13","modified_gmt":"2023-02-14T19:15:13","slug":"stablecoin-issuer-paxos-burns-700m-binance-usd-in-27-hours-amid-regulatory-pressure","status":"publish","type":"post","link":"https:\/\/coinnetworknews.com\/stablecoin-issuer-paxos-burns-700m-binance-usd-in-27-hours-amid-regulatory-pressure\/","title":{"rendered":"Stablecoin Issuer Paxos Burns $700M Binance USD in 27 Hours Amid Regulatory Pressure"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.coindesk.com\/resizer\/p3_TCSWqdhBM_BAJGv1UtEcrEsw=\/800x600\/cloudfront-us-east-1.images.arcpublishing.com\/coindesk\/SBYWVFOJUBBWFLWPUOFRNYPCJU.png\" \/><\/p>\n<div>\n<p>The maneuver is a sign of investors exiting BUSD quickly. The $700 million redemption in a little more than a day represents some 6% of the total coins in circulation. Changpeng \u201cCZ\u201d Zhao, chief executive of Binance, the world\u2019s largest crypto exchange by trading volume, <a href=\"https:\/\/twitter.com\/cz_binance\/status\/1625067487984340993?s=20&amp;t=n2A4x2JvutCjPRiwLKPGlw\">tweeted<\/a> Monday that BUSD market capitalization \u201cwill only decrease over time.\u201d<\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/www.coindesk.com\/markets\/2023\/02\/14\/stablecoin-issuer-paxos-burns-700m-binance-usd-in-27-hours-amid-regulatory-pressure\/?utm_medium=referral&#038;utm_source=rss&#038;utm_campaign=headlines\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The maneuver is a sign of investors exiting BUSD quickly. The $700 million redemption in a little more than a day represents some 6% of the total coins in circulation. Changpeng \u201cCZ\u201d Zhao, chief executive of Binance, the world\u2019s largest crypto exchange by trading volume, tweeted Monday that BUSD market capitalization \u201cwill only decrease over [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":20513,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[56],"tags":[3171,133,3170,412,1695,2627,3042,78,397,2982],"_links":{"self":[{"href":"https:\/\/coinnetworknews.com\/wp-json\/wp\/v2\/posts\/20512"}],"collection":[{"href":"https:\/\/coinnetworknews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinnetworknews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinnetworknews.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinnetworknews.com\/wp-json\/wp\/v2\/comments?post=20512"}],"version-history":[{"count":0,"href":"https:\/\/coinnetworknews.com\/wp-json\/wp\/v2\/posts\/20512\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinnetworknews.com\/wp-json\/wp\/v2\/media\/20513"}],"wp:attachment":[{"href":"https:\/\/coinnetworknews.com\/wp-json\/wp\/v2\/media?parent=20512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinnetworknews.com\/wp-json\/wp\/v2\/categories?post=20512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinnetworknews.com\/wp-json\/wp\/v2\/tags?post=20512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}