Updated on June 7, 2023 BUSD’s market value has been halved due to SEC lawsuit, shrinking to less than 5 billion US dollars
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In 20230607, according to the latest data from CoinGecko, the market value of Binance USD (BUSD), the US dollar stable currency issued by Paxos, has fallen below the US$5 billion mark and is US$4,990,902,406 as of press time.
In 20230213, stablecoin issuer Paxos faced a lawsuit from the U.S. Securities and Exchange Commission (SEC) over BUSD-related issues. The U.S. SEC has sent a letter to Paxos notifying it of possible enforcement actions.
It said the BUSD issued and listed by Paxos is an unregistered security and plans to sue Paxos for violating investor protection laws and may take enforcement action.
