Paxos has announced that from February 21, it will no longer issue new Binance USD (BUSD) tokens.

Binance USD is a dollar-pegged stablecoin issued by Paxos that carried the Binance brand name. Protos previously reported on the work of Jonathan Reiter which showed that Binance Peg BUSD, a token pegged to BUSD issued by Binance, hadn’t always been appropriately backed.

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