Binance confirms it has been notified by Paxos to stop minting new BUSD tokens
February 13 TuoniaoX.com news, crypto exchange Binance stated that Paxos Trust Co. informed Binance that it has been instructed to stop minting new stablecoin BUSD. A Binance spokesperson said: 'BUSD is a stablecoin fully owned and managed by Paxos, therefore, BUSD's market cap will only decline over time. Paxos will continue to service the product, manage redemptions, and provide additional information as needed. Paxos also guarantees that these funds are secure and fully backed by bank reserves.'
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