Cryptocurrency Q&A
What happened to my busd in Binance?
What happened to my busd in Binance?
Michele
Thu Aug 01 2024
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7 answers
1750
Hello, I'm curious to know what might have happened to my BUSD tokens in Binance. I've been keeping track of my portfolio and noticed a discrepancy with my BUSD balance. Could you possibly help me understand what might have caused this change? Is there a specific reason why my BUSD tokens might have disappeared or decreased in value? I'm hoping to get some clarity on this issue as soon as possible. Thank you for your assistance.
7 answers
SumoStrength
Sat Aug 03 2024
The delisting of BUSD as a collateral and loanable asset took effect on October 25th, 2023, at 07:59 UTC. This precise timing ensures that users are aware of the change and can adjust their strategies accordingly.
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BusanBeautyBloomingStar
Sat Aug 03 2024
Binance Loans is a popular feature among traders and investors, allowing them to borrow funds using their existing cryptocurrency holdings as collateral. The platform offers both flexible and stable interest rate options to cater to different user needs.
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SamuraiHonor
Sat Aug 03 2024
With BUSD no longer being an eligible asset for Binance Loans, users who had outstanding loan orders with BUSD as the borrowed or collateral asset faced liquidation at the specified time. This means that their loans were settled, and any remaining balances were settled accordingly.
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CryptoAlchemist
Sat Aug 03 2024
BUSD, a widely-used stablecoin in the cryptocurrency ecosystem, has recently undergone a significant change in its role within Binance's financial offerings. Specifically, BUSD has been removed as a viable collateral and loanable asset for Binance Loans.
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Raffaele
Sat Aug 03 2024
This decision was announced and implemented by Binance, one of the largest cryptocurrency exchanges globally, with a reputation for offering a diverse range of financial products and services to its users.
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