Tuesday June 24, 2025

Company CEO ‘CZ’ Clarifies that BUSD is not Issued by Binance

Company CEO ‘CZ’ Clarifies that BUSD is not Issued by Binance

by Peter Siu February 15, 2023 6 min read

(Originally posted on : Crypto News – iGaming.org )

Binance CEO Changpeng ‘CZ’ Zhao dissociated himself from the Binance-branded stablecoin BUSD after US regulatory action halted minting.

Following a request from the New York Department of Financial Services (NYDFS), BUSD issuer Paxos announced on Monday that it will cease minting new tokens, but refuted authorities’ accusations that the cryptocurrency, which is tied to the value of the US dollar, constituted an unregistered security.

Zhao stressed on Tuesday during a Twitter Spaces that BUSD is not issued by Binance and that his exchange had an arrangement with Paxos to allow them use their brand only.

The Binance CEO continued expressing his support for USDC and USDT stablecoins and said:

Peter Siu

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