Goodbye, BUSD! Popular stablecoin leaves the market

Goodbye, BUSD! Popular stablecoin leaves the marketOnce, the Binance exchange token confidently held the third place in the stablecoin rating, and the capitalization reached $23 billion. However, the war of Changpeng Zhao (CZ) with competitors is lost: next year, BUSD will disappear forever.In 2022, CZ announced the mandatory conversion of USDC, USDP, and TUSD stablecoins arriving on Binance into BUSD. The decision seemed profitable - over the next 90 days, the capitalization of BUSD increased by 11%.Circle (USDC issuer) considered this decision to be destructive and filed a complaint with the New York City Department of Financial Services (NYDFS). In February 2023, the regulator filed a pre-trial claim against Paxos in connection with the issuance of BUSD, which caused it to refuse further minting.Even before the conflict began, Binance received claims due to insufficient BUSD collateral, as a clone was printed on the BSC (Binance Smart Chain) network, and the gap between the reserve and supply in some months exceeded $1 billion. In addition, analytical agencies found facts of mixing  client funds together with the company's assets. On August 31, Binance officially announced the end of support for BUSD in February 2024.Due to increased regulatory pressure on Binance, another exchange coin, BNB, is also showing negative dynamics in 2023. CZ tried to expand the use of the branded token but again proved ineffective. Binance later admitted mistakes in financial management, but it was too late.Instead of BUSD, the use of other coins began to be encouraged through the introduction of zero fees in 2023. For example, in March, Binance advertised switching to TUSD, but in June it lost its peg to USD and began trading at a 20% discount. This coin appeared only in June and is currently trading in the range of $0.13-0.15.What would you suggest to rescue the capital invested in BUSD?Profits to yall!#ForexChief #market #forexnews #stocks #worldnews #profit #StockMarket #BUSD #Binance #crypto