> open event/sog_ev_busd_2023_02_wind_down
Paxos announces BUSD minting halt and wind-down
Paxos announced it would stop issuing new BUSD and end its relationship with Binance for BUSD while continuing redemption support during the wind-down period. SOG treats BUSD as discontinued through issuer wind-down, not as failed due to a depeg collapse.
Impacthigh
Sources4
| Date | 2023-02-13 |
|---|---|
| Type | wind_down_announced |
| Stablecoin | Binance USD (BUSD) |
| Issuer | Paxos |
| Impact | high |
| Confidence | medium |
| Sources | 4 |
| Source | Publisher | Type |
|---|---|---|
| Paxos to end relationship with Binance for BUSD | Paxos | issuer_statement |
| Paxos BUSD issuer context | Paxos | issuer_statement |
| Binance BUSD support phase-out notice | Binance | exchange_notice |
| SEC ends Paxos BUSD investigation, report | Reuters | news_analysis |
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