Thursday, February 29, 2024

Binance Converting Customers Stablecoins

By DAC000 , in Binance stablecoin , at September 7, 2022 Tags: ,

into it’s own offering on September 29th. About a two minute read.

Comment: on the surface what’s the problem? All Stablecoins are supposed to track $1 USD. But look deeper and you’ll see the problem — Binance is clearly acting in their own self interest; this conversion will sharply increase liquidity in and holding of their proprietary Stablcoin. How can they do this? The sector is unregulated. I’ve argued several times for increased regulation, this is another example why regulation is needed. And likely this won’t be the last Stablecoin Binance targets. Let’s see …