Coinbase has recently announced in one of their recent tweets that the exchange is planning to suspend the trading of Binance USD (BUSD). The exchange mentioned that trading will be suspended on March 13, 2023, at or around 12:00 p.m. EST.
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The exchange has kept its word and has officially disabled trading for USD at 12:00 PM ET.
Coinbase officially disables BUSD trading
According to the tweet’s details, trading for basic and advanced trades, Coinbase Pro, exchange, and Prime will all be suspended on Coinbase.com. The exchange, however, stated that the BUSD funds will be available and can be withdrawn at any time.
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Binance and BUSD were suffering as a result of the heightened SEC investigation of stablecoin issuer Paxos. When Paxos was asked to stop issuing BUSD, the stablecoin began to slide from its peg.