{"id":617109,"date":"2023-03-12T09:09:21","date_gmt":"2023-03-12T14:09:21","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/03\/12\/stablecoin-shuffle-binance-launches-exciting-trading-pairs-suspends-usdc-busd-swap\/"},"modified":"2023-03-12T09:09:21","modified_gmt":"2023-03-12T14:09:21","slug":"stablecoin-shuffle-binance-launches-exciting-trading-pairs-suspends-usdc-busd-swap","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/03\/12\/stablecoin-shuffle-binance-launches-exciting-trading-pairs-suspends-usdc-busd-swap\/","title":{"rendered":"Stablecoin Shuffle: Binance Launches Exciting Trading Pairs, Suspends USDC-BUSD Swap"},"content":{"rendered":"
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You are here: Home<\/span><\/a><\/span>\/<\/span> News<\/span><\/a><\/span>\/<\/span> Stablecoin Shuffle: Binance Launches Exciting Trading Pairs, Suspends USDC-BUSD Swap<\/p>\n

\"Binance\"<\/p>\n

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Binance, the world\u2019s largest crypto exchange, has announced<\/a> the launch of several new stablecoin trading pairs. In a blog post, Binance said that it would open trading today for \u201cthe BNB\/TUSD, BTC\/TUSD, ETH\/TUSD, TUSD\/USDT, USDC\/USDT, and USDP\/USDT spot trading pairs.\u201d<\/span><\/p>\n

The company also stated that it has stopped or will stop BUSD auto-conversion for users\u2019 new deposits of USDC, USDP, and TUSD, respectively. Furthermore, users can no longer withdraw USDC, USDP, or TUSD from their BUSD balances.<\/p>\n

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To facilitate the transition, Binance has offered a manual conversion option for users who wish to convert their BUSD balances to USDC, USDP, or TUSD at 1:1. The company has also launched two promotional activities for selected spot trading pairs.<\/p>\n

According to the blog post, Promotion A is offering zero fees for both makers and takers on the BTC\/TUSD spot trading pair and zero fees for makers on the BNB\/TUSD and ETH\/TUSD spot trading pairs. Promotion B is offering zero trading fees on the TUSD\/USDT, USDC\/USDT, and USDP\/USDT spot trading pairs.\u00a0<\/p>\n

Both promotions are open-ended, but Binance reserves the right to disqualify trades that appear to be wash trades or involve illegally bulk registered accounts or those that seem to involve self-dealing or market manipulation.\u00a0<\/p>\n

The blog post also stated that the exchange would measure all trading volume and metrics related to the program at its own discretion. If applicable, the calculation of maker fee and taker fee rebates will be resumed at the end of the promotions, subject to further updates.<\/span><\/p>\n

Binance Suspends USDC To BUSD Auto-Conversion\u00a0<\/h2>\n

This news comes shortly after Binance announced the temporary suspension of the auto-conversion of USDC to BUSD due to current market conditions. The decision was made in response to high inflows and the increasing burden to support the conversion.\u00a0<\/p>\n

According to a statement released by the company, this is a normal risk-management procedure as they continue to monitor the situation. Following the announcement, one community member<\/a> praised Binance\u2019s decision, saying it is a wise move to prevent potential market disruptions.\u00a0<\/p>\n

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The Binance exchange has announced the suspension of $USDC<\/a> to $BUSD<\/a> conversion due to market conditions. This is a wise move as accounts holding large amounts of $USDC<\/a> can buy a lot of $BUSD<\/a> and then disrupt the order book with market sell orders using their accumulated $BUSD<\/a>. In\u2026 https:\/\/t.co\/CL4UjQb3MG<\/a><\/p>\n

\u2014 Mika (@TraderMikabot) March 11, 2023<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

The suspension is necessary as accounts holding large amounts of USDC can buy a lot of BUSD and then disrupt the order book with market sell orders using their accumulated BUSD.\u00a0<\/p>\n

Related Reading | \u00a0KuCoin Caught In Legal Crosshairs: New York Attorney General Takes On<\/a><\/p>\n<\/div>\n

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Read More<\/a>
\n Mishal Ali<\/p>\n","protected":false},"excerpt":{"rendered":"

You are here: Home\/ News\/ Stablecoin Shuffle: Binance Launches Exciting Trading Pairs, Suspends USDC-BUSD SwapBinance, the world\u2019s largest crypto exchange, has announced the launch of several new stablecoin trading pairs. In a blog post, Binance said that it would open trading today for \u201cthe BNB\/TUSD, BTC\/TUSD, ETH\/TUSD, TUSD\/USDT, USDC\/USDT, and USDP\/USDT spot trading pairs.\u201dThe company<\/p>\n","protected":false},"author":1,"featured_media":617110,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22818,23460],"tags":[],"class_list":{"0":"post-617109","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-shuffle","8":"category-stablecoin"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/617109","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=617109"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/617109\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/617110"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=617109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=617109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=617109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}