Quote from: TryNinja on July 26, 2022, 02:15:41 PM

Quote from: Synchronice on July 26, 2022, 07:12:09 AM

I'm afraid that Binance has so huge influence on the market that if it makes mistake, BUSD may get fucked.

Quote from: fzkto on July 26, 2022, 01:14:57 PM

BUSD belongs to Binance. So all these tokens are owned by exchanges, and if something happens to them, these stablecoins could crash.

This is wrong.

Binance does not "own" BUSD. The stablecoin is administrated by Paxos (paxos.com), whichs offers whitelabel services so other exchanges or companies (like Binance with the BUSD, or Huobi with the HUSD) can have their branded stablecoin: https://paxos.com/stablecoin-and-payments

If Binance or Huobi breaks, BUSD and HUSD will be fine.

Thank you very much for enlightening me, I really didn't know that.