Elon Musk’s X platform, formerly known as Twitter, has been making moves in the payments space. The tech billionaire has obtained money transmitter licenses from several U.S. states, including Arizona, Maryland, Georgia, Michigan, Missouri, New Hampshire, and Rhode Island. Musk has hinted at supporting crypto on the platform, and the Rhode Island license is a requirement for offering crypto services.
Meanwhile, Bitcoin’s average trade size on most exchanges jumped to its highest point since June following Grayscale’s court victory over the U.S. Securities and Exchange Commission (SEC). According to data from Kaiko, the average trade size for Bitcoin on crypto exchange Kraken increased to above $2,000 after Tuesday’s ruling from around $850 the day prior. “This could suggest large traders are more active,” said Kaiko analyst Dessislava Aubert.
Cryptocurrency exchange Binance has announced it will gradually end support for its BUSD stablecoin. Binance is delisting BUSD as a loanable asset on September 6 and will cease withdrawals of BUSD tokens via BNB Chain, Avalanche, Polygon, and Tron on September 7. BUSD’s 24-hour trading volume is just under $900 million, according to data by CoinMarketCap.