Coinbase To Halt Trading of Binance USD for Not Meeting Listing Standards

Coinbase will suspend trading of Binance USD (BUSD) on March 13 at around noon EST. From a report: The crypto exchange said the decision was based on its most recent review of the stablecoin, which Paxos recently stopped issuing following an order from a New York regulator. "Our determination to suspend trading for BUSD is based on our own internal monitoring and review processes," a Coinbase spokesperson told The Block. "When reviewing BUSD, we determined that it no longer met our listing standards and will be suspended."

Another craptocoin on the scrap heap

[gosso920]

Add this one to the list at fuckedcurrency.com

Re:

[shanen]

Kind of a weak FP, but it triggered a general thought on the topic of why the governments are having so much trouble getting a grip on the problems created by cryptocurrencies...

Business and government are different and should not be confused. In particular, it might make (short-term) sense for a company to think ahead one quarter at a time, and cryptocurrencies are thinking much shorter than that, but that's NOT how government should work. Governments should be thinking about the long term.

Oh, wait. These

Re:

[hdyoung]

This is why we need the federal reserve to be entirely politically independent.

Imagine how bad it would have been if “insert name of politician you dislike the most” had been in control of the federal reserve in addition to the White House. Keep those politicians away from the money supply. Leave that to the economists.

Re:

[shanen]

Nice theory you got there. Too bad something happened to it long ago...

Right now the main criterion for getting one of those "politically independent" jobs is making sure the politicians think you are going to keep pumping up the stock market. Their only real concern is that the bubble doesn't burst until they've cashed in their chips and gotten out of the blast range. Or will it be more of an implosion than explosion?

Just shut the whole thing down already

[xack]

The charade has gone on long enough, Windows 7 and 8 have come and gone in the time cryptocurrency has been around. Just shut down the exchanges voluntarily before the regulators give you what you deserve. I'd say if you still think cryptocurrency is a good idea you need to hand in your geek card.

The exchanges are multi-million dollar companies

[rsilvergun]

unless they do something dumb like FTX and rip off people with real money they'll be allowed to swim for a while until regulations are gradually shut down by basic securities and banking regulations. But it's unlikely the CEOs will face any charges as long as they stick to ripping off little old ladies.

Providing an advance warning? That's a new one.

[Powercntrl]

I've always wanted to watch the cryptocurrency equivalent of a bank run. Guess I'll be making some popcorn and logging onto Coinbase on the 13th to watch the carnage.

Interesting...

[The Evil Atheist]

we determined that it no longer met our listing standards

...that you don't apply the standards to stuff BEFORE you list them.

It's as if you're happy to get away with as much shit as possible before you get caught out.

Which standard(s) did BUSD not meet?

[e065c8515d206cb0e190]

Curious...

Re:

[Petersko]

Good question. I suppose it's like not being up to "Epstein Standards". It takes work to fail that.

It's all a ponzi

[mabu]

Once you realize the underlying technology is a scam [youtube.com], it becomes apparent there's little more than a de-centralized pyramid scheme happening. Stablecoins only exist as a proxy for fake money that was never there in the first place, pumping up the market so people at the top of the pyramid can cash out.

Re: It's all a ponzi

[e065c8515d206cb0e190]

Eh... not they're not. And no, they don't.