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Stablecoin Issuer Paxos Burns $700M Binance USD in 27 Hours Amid Regulatory Pressure

The BUSD supply decreased by more than 6% since Monday.

Nansen data shows that Paxos has been burning BUSD every few hours since Monday morning. (Nansen)
Nansen data shows that Paxos has been burning BUSD every few hours since Monday morning. (Nansen)