Explore the unfolding story of Binance's BUSD token, which allegedly operated as a security, enticing investors with profit-earning schemes within Binance.
Binance's BUSD token, marketed as a stablecoin, is under scrutiny for its alleged status as a security. This investigation covers the period from September 2019 to February 2023 when BUSD was promoted as an investment contract. The token's profit-earning potential, including "Binance Earn" programs and high APYs, raised concerns.
directed Trust Company A to halt BUSD minting due to oversight issues with Binance. Over $16 billion BUSD were in circulation by February 2023, with most held by Binance. The story unravels the regulatory challenges surrounding BUSD and its impact on the cryptocurrency market.
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