Binance, Issuer of 3rd Biggest Stablecoin, to Stop Supporting Larger Rival USDC

Posted by donsupreme on Monday September 05, 2022 @03:35PM
from the coindesk.com dept.

https://www.coindesk.com/business/2022/09/05/binance-to-convert-users-usdc-usdp-tusd-into-its-own-stablecoin-busd/

( 5 comments | 6 points | on HN )

Re:Binance, Issuer of 3rd Biggest Stablecoin, to Stop Suppor... by jqpabc123 on Monday September 05, 2022 @03:37PM (#32728405)

Binance owns the crypto market. They are effectively the "central bank" of crypto.

Continue to play at your own risk but it's their game now to manipulate as they choose --- and this is just the latest proof.

[ Parent | on HN ]

Re:Binance, Issuer of 3rd Biggest Stablecoin, to Stop Suppor... by OrangeMonkey on Monday September 05, 2022 @04:06PM (#32728808)

There is continued concern that USDT is still being used to manipulate the crypto space. Seems a valid concern.

[ Parent | on HN ]

Re:Binance, Issuer of 3rd Biggest Stablecoin, to Stop Suppor... by jqpabc123 on Monday September 05, 2022 @04:19PM (#32728967)

If it can happen, it will happen. And in this case, there is nothing to stop it --- so I'd say it is a near certainty.

What would you do in their position?

[ Parent | on HN ]

Re:Binance, Issuer of 3rd Biggest Stablecoin, to Stop Suppor... by terrio on Monday September 05, 2022 @06:27PM (#32730247)

I just read in the article how much stable coins there is.

Why would I buy a stable coin if this literally just creates money out of thin air and me trusting some company that they just lend money to me for free?

We do two things which are normally a sign of economic loss.

[ Parent | on HN ]

Re:Binance, Issuer of 3rd Biggest Stablecoin, to Stop Suppor... by aaaaaaaaata on Monday September 05, 2022 @08:09PM (#32730974)

> Why would I buy a stable coin if this literally just creates money out of thin air and me trusting some company that they just lend money to me for free?

You are in for quite a shock.

[ Parent | on HN ]