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BUSD Depegs From Rival Stablecoin Tether After New York Regulator Tells Paxos to Stop Minting New Tokens

Traders seem to be migrating from Paxos' BUSD stablecoin to tether.

BUSD trades at a discount to rival tether on Binance. (Kaiko)
BUSD trades at a discount to rival tether on Binance. (Kaiko)