On March 15, the CEO of the top cryptocurrency exchange Binance, Changpeng Zhao, announced that the platform would no longer provide zero-fee bitcoin trading. Zhao shared an updated BUSD Zero Maker Fee Promotion along with the news that Binance is switching zero-fee BTC trading from BUSD to TUSD "given recent events" involving the failure of major American banks.
The update to Binance's no-cost Bitcoin trading program and BUSD zero maker fee promotion will take effect on March 22. This revision is also valid till further notice.
The platform has also made available updated pricing schedules for a number of well-known trading pairs. Binance has announced a 0% maker fee and 0% taker charge for the BTC/TUSD trading pair.
In the meantime, Binance has set the maker charge for the BNB/TUSD and ETH/TUSD trading pairings at 0% and the taker cost at the usual rate dependent on the user's VIP status.
Finally, Binance has set the maker fee and taker charge for the BNB/BUSD, BTC/BUSD, and ETH/BUSD trading pairings at the regular rate based on the user's VIP status.
On Twitter, a member of the cryptocurrency community made a comment about Zhao's announcement article about the TrueFi $TRU DeFi credit mechanism. Wow what a day for $TRU to get in everyone's historical announcement, read the tweet.
In response, Zhao explained that “TRU should not be related to TUSD.” However, this drove the coin to plummet from a peak worth $0.1479 to a quick low of $0.1298 in price.