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2023
Investors withdrew $2.5 billion from Binance stablecoin after pressure from US authorities
By mid-February 2023, investors withdrew $2.5 billion from Binance stablecoin after decisions by US regulators.
Actions of US regulators against Paxos lead to an outflow of $788 million from Binance
On February 14, 2023, $788 million was withdrawn from Binance in the previous 24 hours. Investors are taking their money amid news of U.S. regulators taking action against Paxos, the issuer of stablecoin Binance USD.
2022: USDC issuer files complaint about poor quality management of Binance stablecoin
In 2022, Circle (USDC stablecoin) filed a complaint with the New York State Department of Financial Services (NYDFS) regarding the quality of stablecoin Binance USD (BUSD) reserve management, Bloomberg reported in February 2023.
The issuer of the rival asset, USDC, pointed to allegedly insufficient security for BUSD.
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