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Binance mints 50M TUSD tokens following regulatory action against BUSD

Published date:

February 2, 2026

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Crypto exchange Binance has minted nearly 50M TrueUSD (TUSD) tokens days after the NYDFS ordered Paxos to cease issuing Binance USD (BUSD).

50M #TUSD minted at #Binance and the price of $TRU increased by 200%.

On-chain data shows that #Alameda and #justinsun are the two largest minters of $TUSD.#Alameda minted a total of 1.64B $TUSD in history.#justinsun minted a total of 889M $TUSD in history. pic.twitter.com/N1tUjFQm5U
— Lookonchain (@lookonchain) February 16, 2023

The news came a few days after Binance CEO Changpeng Zhao claimed that they are exploring other options as the exchange expects BUSD to “wind down over time.”

As per the metrics from Whale Alert, the transaction occurred around 2 pm (UTC) on February 16.

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The price of TRU, the native token of TrueFi protocol, rose sharply since the announcement. The stablecoin is valued at $0.08, up by over 79% in the last 24 hours.

It is worth noting that although TRU was linked with TUSD in the past, the tokens are now issued by different firms.

Interestingly, BUSD has not lost its position as the third largest stablecoin despite the NYDFS’ crackdown on the token. However, the 24-hour market capitalization of the stablecoin has decreased from $14.3B to $13.7B.

Meanwhile, TUSD is ranked fifth among the stablecoins with the largest market cap. TUSD, with a relatively smaller market cap of $968M, is the 54th largest token in the crypto market.

Written by

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

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How we reviewed this article

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Ayush Pande

Written by:

Ayush Pande

Writer

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

About the Author

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

About the Author

Radica Maneva

Reviewed by:

Radica Maneva

Senior Editor

Radica is a Senior Editor at Bitcompare. She has worked for more than a decade at leading publications as an Editor across various industries, including crypto and finance.

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