We are here with a new development in the world of crypto money. Our development this time is related to an announcement made by Binance. Moreover, the announcement will delight cryptocurrency enthusiasts. Let’s take a look at the details of our news.
Binance gave the good news
Leading cryptocurrency exchange Binance made a statement today. There is good news for all trueUSD (TUSD) trading pairs in the statement. Accordingly, it has announced that it will extend its zero free transaction promotion from June 30. The exchange announcement emphasizes that traders can take advantage of zero maker fees on all TUSD spot and margin trading pairs. It was also stated that the promotion will be extended to the bitcoin (BTC) – TUSD pair. On the other hand, it is also emphasized that users will be able to trade stablecoins without paying during the promotional period.
Let’s say the move comes at an interesting time. The move comes after Binance minted nearly $1 billion in TUSD from the Tron network last week, according to blockchain data from Arkham Intelligence. This development came at a turbulent time when the world’s largest crypto exchange is facing lawsuits and regulatory scrutiny in many countries. The US Securities and Exchange Commission (SEC) has sued Binance CEO Changpeng Zhao “CZ” and Binance.US for violating federal securities laws. There is a troubling situation not only in America but also in France. French authorities are investigating the company for “aggravated money laundering”.
What does my name mean
This maneuver also signals Binance’s intention to spread TUSD trading on its platform. The token is the fifth largest dollar-pegged stablecoin in the market. It is issued by crypto firm ArchBlock, formerly known as TrustToken. In 2020, Techteryx, a little-known Asian company, acquired the intellectual property of the token from TrustToken. Reports claim that Justin Sun, the crypto billionaire and founder of Tron, may be behind TUSD. However, the issuer denies the allegations.
Binance began promoting TUSD on its platform after the New York state regulator forced issuer Paxos to issue Binance-branded stablecoin BUSD in February. According to Arkham data, at least 90% of the stablecoin’s total market cap of $3.1 billion is currently held in the exchange’s crypto wallets.
Which transactions are free
With the good news of Binance zero commission, it was a matter of curiosity which trading pairs would not be charged. Accordingly, we mentioned above that all trading pairs for trueUSD (TUSD) are free. On the other hand, there will be free usage between stablecoins. In addition, BTC/TUSD, TUSD/BUSD and TUSD/USDT trading pairs are also free.
As of June 30 at 03:00, TUSD and BUSD promotions will be valid. When we look at Kriptokoin.com, it is not clear when the promotions will end.
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