Internal Monitoring and Review Processes
According to a spokesperson, the decision to suspend BUSD trading is based on Coinbase's internal monitoring and review processes. After reviewing BUSD, it was determined that it no longer met the exchange's listing standards.
Impacted Trading Platforms
The suspension will affect Coinbase.com, Coinbase Pro, Coinbase Exchange, and Coinbase Prime. Despite this, users can still access their BUSD funds and withdraw them at any time.
Binance Coin Price Drop
Following the announcement, Binance coin (BNB) saw a 1% drop in price and was trading at $302.57 at the time of press.