Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Coinpedia Fintech News on March 15, 2023, 02:32:11 PM
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Binance, one of the world's largest cryptocurrency exchanges, has announced the end of zero-fee Bitcoin trading on its platform. The move comes amid regulatory scrutiny of Binance USD (BUSD), a stablecoin, and the exchange is shifting its zero-fee Bitcoin trading to TUSD. From March 22, BTC/TUSD will be the only zero-fee spot trading pair, while zero maker fees will still apply to BNB/TUSD and ETH/TUSD trading pairs.
Binance CEO Changpeng “CZ” Zhao stated that the exchange is not adding another stablecoin, but stopping the BUSD program amid ending support for it. The BUSD zero maker fee promotion will now exclude the BNB/BUSD, BTC/BUSD, and ETH/BUSD spot and margin trading pairs, while other BUSD spot and margin trading pairs will remain the same. TrueFi (TRU) token jumped nearly 20% after the announcement, as people believed the token is still related to TUSD. However, the Binance CEO asserts that TRU should not be related to TUSD.
Crypto Twitter has reacted positively to the move by Binance, expressing support for TUSD stablecoin after BUSD. On March 11, Binance switched to multiple stablecoins and discontinued its Binance USD (BUSD) Auto-Conversion policy that was introduced last September. Binance's recent addition of new spot trading pairs, such as BNB/TUSD, BTC/TUSD, ETH/TUSD, TUSD/USDT, USDC/USDT, and USDP/USDT, indicates the exchange's move towards TUSD, a comparatively small stablecoin with just $2 billion market cap.
As of now, Bitcoin is trading at $24,893, up 2% in the last 24 hours and 13% in a week. The trading volume continues to be flat in the last few hours. Despite Bitcoin's recent price fluctuations, the crypto market is expected to continue to grow in popularity as more people adopt cryptocurrencies as an investment and payment method.