- First Digital USD (FDUSD) achieved a market capitalization of $1 billion following Binance’s cease support for BUSD.
- BUSD faces challenges, losing dominance and market cap, declining over 92% in 12 months.
- Binance’s decision to cease BUSD support aligns with its earlier announcement in August amid regulatory pressures surrounding the stablecoin.
On Monday, Vincent Chok, Founder and CEO of First Digital, expressed gratitude for the tremendous growth of First Digital USD’s (FDUSD) market capitalization, which now stands at $1 billion. This achievement follows Binance’s announcement of transitioning from BUSD to FDUSD, a new contender in the largest exchange stablecoin arena.
This remarkable growth is a result of our team's relentless dedication & ruthless diligence, plus the trust our clients have in our vision for a stable and efficient digital currency.#Leadership #GrowthStory— Vincent Chok (@vchok) December 5, 2023
In an official press release on December 15, 2023, Binance announced its decision to cease support for BUSD. The exchange actively promoted FDUSD as a viable alternative, encouraging users to trade or convert BUSD balances into FDUSD fre…
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