Investors withdraw $6 billion from Binance’s stablecoin

  • Investors have withdrawn around $6 billion from Binance‚Äôs stablecoin.
  • On Feb. 13, Paxos Trust Company, which issues Binance USD, was told by the U.S. Securities and Exchange Commission (SEC) that it should have registered the product as a security.
  • The SEC is considering taking action against the platform.