Binance CEO Changpeng Zhao made the stunning announcement that the exchange will no longer provide commission-free bitcoin trading, citing recent events involving the failure of central banks in the United States. As a kind of reparation, the exchange has modified its BUSD Zero Maker Fee Offer and moved its fee-free Bitcoin trading from the BUSD market to the TUSD market.
Wow what a day for $TRU get in everyone historical announcement
— DURAI (@du_rai) March 15, 2023
According to the press release, Binance will modify its zero-cost Bitcoin trading scheme, and effective on March 22, the BUSD zero-maker fee will be made available to customers. In addition, this update will continue to be in effect until we get additional instructions.
Binance’s Fee Structure Update
In addition, the site has revised the cost structure for some popular trading pairs. Binance has announced a 0% maker fee and 0% taker charge for the BTC/TUSD trading pair.
Meanwhile, Binance has placed the maker charge at 0% for the ETH/TUSD and BNB/TUSD trading pairings and the taker fee at the regular rate, dependent on the user’s VIP status.
Binance has set the maker fee for numerous additional popular trading pairs, including BTC/USDT, BTC/GBP, BTC/BRL, BTC/AUD, BTC/RUB, BTC/EUR, BTC/TRY, BTC/UAH, and BTC/BUSD, at the standard rate depending on the user’s VIP level, and the taker fee at the standard rate based on the user’s VIP level.
Finally, Binance has fixed the maker and taker fees for the BTC/BUSD, BNB/BUSD, and ETH/BUSD trading pairings at the regular rate, depending on the user’s VIP status.
$TRU Surges on Announcement
On Zhao’s announcement post on Twitter, a member of the cryptocurrency community remarked the DeFi credit system TrueFi’s $TRU token. Well, as stated in the tweet, what a day for $TRU to be included in everybody’s momentous announcement.
As a clarification to it, Zhao said that “TRU should not be tied to TUSD.” Nevertheless, because of this, the value of the cryptocurrency dropped precipitously, from a peak of $0.1479 to an all-time low of $0.1298.