Binance announced on the 5th of this month that it will convert its Binance-Peg BUSD collateral assets to FDUSD at a 1:1 ratio. At that time, the market value of BUSD had just fallen below $1 billion, and within a short two weeks, its market value further declined to less than $100 million. Additionally, Binance announced today that it will be burning a large number of Binance-pegged Tokens on various chains…
Title: Binance Converts Binance-Peg BUSD Collateral Assets to FDUSD at a 1:1 Ratio, Announces Burning of Binance-Pegged Tokens on Multiple Chains
Summary: Binance announced on the 5th of this month that it will convert its Binance-Peg BUSD collateral assets to FDUSD at a 1:1 ratio. At that time, the market value of BUSD had just fallen below $1 billion, and within a short two weeks, its market value further declined to less than $100 million. Additionally, Binance announced today that it will be burning a large number of Binance-pegged Tokens on various chains.