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Coinbase CEO Armstrong: We Delisted BUSD Due to Liquidity Concerns
The exchange previously said it made the move because BUSD didn’t meet its listing standards, without going into any detail.
By Helene Braun
Updated May 9, 2023, 4:09 a.m. Published Mar 1, 2023, 5:00 p.m.
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Coinbase CEO Brian Armstrong said the exchange decided to suspend trading of Binance USD (BUSD) because the company had concerns about its liquidity.
The crypto exchange had previously said the reason for delisting BUSD was that based on its own internal monitoring and review processes the stablecoin no longer met its listing standards. Coinbase didn’t supply any additional details.
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On Wednesday morning, Armstrong appeared on Bloomberg TV and gave a more detailed explanation for the move.
“The reason we did that was that Paxos, the issuer of BUSD, had been ordered to stop minting it, so we were concerned about liquidity issues for our customers,” Armstrong said.
The New York Department of Financial Services (NYDFS) recently ordered Paxos to stop minting the Binance-branded BUSD due to unresolved issues related to Paxos’ oversight of its relationship with Binance. The Securities and Exchange Commission was also reportedly planning to sue Paxos for selling BUSD as an unregistered security.
Higit pang Para sa Iyo
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
Ano ang dapat malaman:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Coinbase CEO says Big banks now view crypto as an ‘existential’ threat to their business
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What to know:
- Coinbase CEO Brian Armstrong said a top executive at one of the world’s 10 largest banks told him crypto is now the bank’s “number one priority” and an “existential” issue.
- At Davos, Armstrong highlighted tokenization of assets and stablecoins as major themes, arguing they could broaden access to investments for billions while threatening to bypass traditional banks.
- He described the Trump administration as the most crypto-forward government globally, backing efforts like the CLARITY Act, and predicted that AI agents will increasingly use stablecoins for payments outside conventional banking rails.
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