Post
Topic
Board Altcoin Discussion
Re: Breaking: Paxos reportedly ordered to stop issuing Binance USD
by
jaberwock
on 15/02/2023, 20:54:41 UTC
There's also the case that binance said any usdt or usdc deposited there would be converted to busd, I think that also makes it much riskier than usdc and usdt because of that (you're relying on multiple assets).
The excluded tether because of its huge volume so far in the platform but if you deposit USDC, TUSD or USDP, they would automatically be converted to BUSD

They also delisted any trading pairs of USDC, TUSD or USDP
I sort of understand the logic behind that. There are a lot of people attacking Binance for how big they are, and they are rejecting to work with others because of this. Doesn't mean that they are doing anything bad, it just means they are doing what they think would be good for their company.

Additionally, if they do not accept USDC, just do not deposit that? Nobody forces anyone to do it, it is not like they are breaking a law by not accepting a coin. I believe this is not the solution to their problems, they need to figure out who is the one that keeps spreading these rumours about them being in trouble and we are seeing some of their opponents in this case.