In February, the exchange Coinbase announced its intention to stop operations with the stabelcoin Binance USD (BUSD).
After this statement, investors began to withdraw capital from this digital asset. As a result, for the first time since June 2021, the capitalization of BUSD fell below $10 billion.
Whale wallets took the lion’s share of funds from Stablecoin. Even before reports of the lawsuit against Binance surfaced, traders began withdrawing BUSD tokens from the trading floor.