<p>DeFi lender TrueFi's token, TRU, jumped over 140% shortly after Binance minted $50 million worth of the TrueUSD stablecoin. </p> <p>Binance minted 49.99 million TRU at around 10 a.m. EST today, according to Etherscan <a href="https://etherscan.io/tx/0x153c015816621e3a90a79ab3e1d9c19d5bef519e1c260fd5f0be85eeda09dca4">data</a>. The move comes just days after Paxos was ordered to stop issuing Binance USD, or BUSD. BUSD accounted for about 37% of the spot trading volume on the exchange in January.</p> <p>TRU was trading around $0.10 by 5:30 p.m. EST, up around 142% in the past day, according to CoinGecko data.</p> <div id="attachment_212689"class="wp-caption alignnone" style="max-width: 1210px;"><img class="has-caption wp-image-212689 size-full" src="https://www.tbstat.com/wp/uploads/2023/02/chart-8.jpeg" alt="" width="1200" height="1200" /><p class="wp-caption-text"><a href="https://www.coingecko.com/en/coins/truefi"><span style="font-size: 8pt;">TRU chart by CoinGecko</span></a></p></div> <p>Paxos was ordered to stop issuing the stablecoin by the New York Department of Financial Services. Binance's CEO Changpeng Zhao come <a href="https://www.theblock.co/post/210951/binance-sticking-with-busd-for-now-ready-to-explore-options">said</a> the exchange will continue to support BUSD for the "foreseeable future."</p> <p>"We do foresee users migrating to other stablecoins over time. And we will make product adjustments accordingly. eg, move away from using BUSD as the main pair for trading, etc.," he said. When asked why the exchange wouldn't consider another issuer, Zhao said, "we are exploring others and non-USD-based stablecoins."</p> <p>Cryptocurrencies were up across the board today, with bitcoin <a href="https://www.theblock.co/post/212586/bitcoin-reaches-25000-its-highest-price-since-june">reaching</a> its highest point since June.</p><br /><span class="copyright"><p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>