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The BUSD V2 dashboard shows that the embattled stablecoin accounted for roughly 81% of the pool's $12.85 million reserve, while USDT made up 4%.
Oluwapelumi Adejumo 2 min read 
Binance USD (BUSD) issuer Paxos burnt $342 million worth of the stablecoin during the previous 24 hours, according to Etherscan data.
The algorithmic USD stablecoin saw gains of 19% today.
Binance Coin (BNB) has taken a hit as US regulators reportedly take a closer look at BUSD.
Circle allegedly reported the stablecoin prior to today's NYDFS crackdown.
The Tether stablecoin has also seen a small decline but remains steady with a market cap of $68.9 billion.
Following Paxos move to halt minting BUSD, the Aave community has initiated a proposal to freeze its BUSD holding on Aave V2 Ethereum market.
CZ doubled down on his belief that BUSD should not be subject to US securities law and that that the exchange will continue to support BUSD.
The SEC has issued a Wells notice to Paxos regarding Binance USD, although it is uncertain whether the notice relates to issuance or listing.
