Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

CZ Drives Drop In TRU Value While Releasing Zero-Fee BTC Trading Updates

Published 03/15/2023, 07:43 PM
Updated 03/15/2023, 07:45 PM
© Reuters. CZ Drives Drop In TRU Value While Releasing Zero-Fee BTC Trading Updates

  • Binance updates zero-fee Bitcoin trading from BUSD to TUSD due to “recent events.”

  • Updated fee structure for popular trading pairs, including 0% maker and taker fees for BTC/TUSD.

  • Binance CEO’s comment on DeFi credit protocol TrueFi’s $TRU prompts decline in value.

Leading crypto exchange Binance’s CEO Changpeng Zhao tweeted on March 15 that the platform will no longer support Zero-Fee Bitcoin Trading. Alongside sharing an updated BUSD Zero Maker Fee Promotion, Zhao announced that, “given recent events” surrounding the collapse of several American banks, Binance is moving zero-fee BTC trading from BUSD to TUSD.

According to the announcement, starting from March 22, Binance is updating its zero-fee Bitcoin trading program and BUSD zero maker fee promotion. Moreover, this update will be in effect until further notice.

Additionally, the platform has released an updated fee structure for several popular trading pairs. For the BTC/TUSD trading pair, Binance has announced a 0% maker fee and 0% taker fee.

Meanwhile, for the BNB/TUSD and ETH/TUSD trading pairs, Binance has set the maker fee at 0% and the taker fee at the standard rate based on the user’s VIP level.

For several other popular trading pairs, including BTC/AUD, BTC/BIDR, BTC/BRL, BTC/BUSD, BTC/EUR, BTC/GBP, BTC/RUB, BTC/TRY, BTC/UAH, and BTC/USDT, Binance has set the maker fee at the standard rate based on the user’s VIP level, and the taker fee at the standard rate based on the user’s VIP level.

Finally, for the BNB/BUSD, BTC/BUSD, and ETH/BUSD trading pairs, Binance has set the maker fee and the taker fee at the standard rate based on the user’s VIP level.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

A crypto community member on Twitter commented about DeFi credit protocol TrueFi’s $TRU on Zhao’s announcement post. The tweet read: Wow what a day for $TRU get in everyone historical announcement.

In response, Zhao clarified that “TRU should not be related to TUSD.” However, this pushed the crypto to decline from a high worth $0.1479 to a sudden low of $0.1298 in price.

The post CZ Drives Drop In TRU Value While Releasing Zero-Fee BTC Trading Updates appeared first on Coin Edition.

See original on CoinEdition

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.