Binance's dollar-pegged token is bleeding, seeing $6 billion in outflows in a month as the crypto crackdown intensifies

• Binance's dollar-pegged stablecoin BUSD suffered $6 billion in outflows last month, according to an FT report.
• The cash withdrawals come as investors fret over US regulators' crackdown on the crypto industry. 
• BUSD is the world's third largest stablecoin that's pegged to the dollar on a one-to-one ratio. 

Binance's dollar-pegged coin is running into trouble as US regulators crack down on the crypto industry.

Last month, investors pulled more than $6 billion from the Binance-branded BUSD token, according to a Financial Times report.