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Binance's Bitcoin (BTC)  liquidity for its TrueUSD (TUSD) rose more than 250% on March 22 after it phased out its zero-fee trading for other stablecoins.

Binance abolished almost all zero fee trading pairs from its platform after nine months, only keeping the promotion for the TUSD-bitcoin pair.

Cryptocurrency exchange Binance has replaced its Binance USD (BUSD) holdings in its Secure Asset Fund for Users (SAFU) with TrueUSD (TUSD) and Tether (USDT) in response to Paxos' move to stop minting new BUSD. SAFU is an emergency insurance fund established by Binance to protect users' funds in case of security breaches or other unforeseen events.

Binance will replace BUSD in its Secure Asset Fund with USDT and TUSD.

Binance assured its users that this change will not impact them in any way, and that their funds will continue to be held in publicly verifiable addresses.

Binance will no longer hold BUSD in its Secure Asset Fund for Users (SAFU) and has swapped the stablecoin for ERC-20 TUSD and BEP-20 USDT, according to a March 17 press release.

Binance moved BUSD from its SAFU insurance fund into USDT and TUSD since Paxos cannot mint new BUSD coins.

Archblock oversees about $2 billion in reserves that back its stablecoin TrueUSD (TUSD). After the reserve transfer, Capital Union Bank now holds more than $1.4 billion.

The hope is this move will spread liquidity to more pairs.

Popular cryptocurrency exchange Binance has announced its move to zero-fee bitcoin trading from BUSD to TUSD on March 2022.

Binance said it is moving its zero-fee Bitcoin (BTC) trading from Binance USD (BUSD) to TrueUSD (TUSD) on March 22.

USDC briefly depegged last weekend when Circle announced it had exposure to Silicon Valley Bank. Investors flocked to these alternatives.

The cryptocurrency market has been rattled by the recent collapse of SVB and the subsequent depegging of stablecoins. This incident has highlighted the need for greater transparency and accountability from stablecoin issuers and the importance of regulatory oversight in ensuring the stability of the cryptocurrency market.

Stablecoins have been in the crosshairs of regulators recently, with Binance's BUSD Stablecoin drawing the ire of the SEC.

In the past few weeks, True USD [TUSD] surged in market value to become the sixth-largest stablecoin overall. Although Tether [USDT] is the largest stablecoin by market cap, the situation is rapidly changing.

TrueUSD has become the fifth largest stablecoin after Binance minted about $130 million TUSD in the past seven days.

As the Binance USD (BUSD) stablecoin faces regulatory scrutiny, the world's largest crypto exchange Binance is now focusing on the TrueUSD (TUSD) stablecoin. Data from crypto intelligence firm Nansen shows that Binance has minted more than $130 million worth of TUSD stablecoins over the last week.

Blockchain data shows exchange giant Binance has been relying increasingly on TUSD after regulators clamped down on its Binance USD stablecoin.

With the sudden rise of crypto regulations surrounding stablecoins, TrueUSD (TUSD) stablecoin's issuer, Archblock, announced that it will leverage Chainlink's proof-of-reserves mechanism to enable users to confirm that its reserves are completely collateralized on the blockchain via an automated data feed. TrueUSD To Use Chainlink's PoR The Network Firm LLP (“TNF”), an independent and industry-specialized The post TrueUSD (TUSD) Poised For More Demand As New Development Offers Edge Over Rivals?

The key is to get information from the bank account where the stablecoin's reserves are kept to the blockchain-based smart contract that controls issuance of new TUSD.

Archblock will use Chainlink to let users verify on-chain that its stablecoin reserves are fully collateralized.

The exchange Binance has recently been in the news for minting 50 million units of the TrueUSD stablecoin after the US Securities and Exchange Commission (SEC) ordered it to stop issuing the BUSD stablecoin.

Binance, one of the world's largest cryptocurrency exchanges, has announced that it has minted $50 million worth of TrueUSD, a stablecoin pegged to the US dollar. This decision comes after the New York State Department of Financial Services (NYDFS) halted the issuance of another stablecoin, BUSD, by Paxos, amid regulatory scrutiny.

Despite the minting of $50 million in TUSD, Zhao previously said the regulatory crackdown on stablecoins in the U.S. will cause the USD-back stablecoin market to “shrink.”