FTX CEO Sam Bankman-Fried (SBF) said the rise of Binance

In September, Binance announced it would cease a long list of spot trading asset pairs for USDC, USDP Stablecoin (USDP) and TrueUSD (TUSD), with any users still holding the three stablecoins by Sept. 29 to have their holdings auto-converted to BUSD at a 1:1 ratio.

Binance stated that the move was a decision to enhance liquidity and capital efficiency for users. At the time, Binance said there were immediate plans to do the same to USDT, but noted that this “may change.”