Cryptocurrency exchange Binance announced Wednesday that it will end zero-free bitcoin trading on its platform. Amid the crackdown on stablecoin Binance USD (BUSD), cryptocurrency exchanges have moved their fee-free bitcoin trading capabilities to TUSD only.
Binance Ends Zero-Free Bitcoin Trading
“Given recent events, we are moving 0 fee BTC trading from BUSD to TUSD. Let’s spread the liquidity to more pairs. We add pairs and provide liquidity. Вinance aims to be an open platform.” – Вinance CEO Changpeng “CZ” Zhao.
Changpeng Zhao also informed that the exchange will not add another stablecoin but will halt the BUSD program. The BUSD zero maker fee promotion now excludes BNB/BUSD, BTC/BUSD and ETH/BUSD spot/margin trade pairs, while other BUSD spot/margin trade pairs remain the same.
After the announcement, TrueFi (TRU) token surged nearly 20%. Despite of the fact that there are still some rumors in crypto community about TRU token being related to TUSD, Zhao claims that TRU should not be associated with TUSD. Crypto community reacted on Twitter to Вinance’s move by expressing support for the TUSD stablecoin after BUSD. On March 11th, Вinance switched to multiple stablecoins and retired the Вinance USD (BUSD) automatic conversion policy that started last September.
Вinance adds new spot trading pairs BNB/TUSD, BTC/TUSD, ETH/TUSD, TUSD/USDT, USDC/USDT, and USDP/USDT, following the the Circle’s USDC depeg due to the collapse of three crypto-friendly banks. This shows Вinance’s move towards TUSD, a relatively small stablecoin with a market cap of just $2 billion.
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