Post
Topic
Board Altcoin Discussion
Re: BNB & BUSD Under Attack
by
SirLancelot
on 21/02/2023, 06:35:18 UTC
All the Dump occur because of the SEC because they launch enforcement action against Paxos, the issuer of BUSD. Paxos says that it will vigorously defend itself, and the issue is going to court. But as per the CZ's recent tweet, "Ignore FUD, fake news, attacks, etc." it is clear that both BNB and BUSD will recover the price soon.

All the small investors and Newbies are advised to take extra care because if something bad happens then they won't be able to get their investment back and it will be the same case as LUNA and FTX as they were also considered Stablecoins like BUSD.
BUSD is a kind of stable coin. Many are expecting that the value of a stable coin is only going to stay at 1 USD but even the dollar itself can't sustain it. It still fluctuates a little but it will always find it way back on 1 dollar again. I just want to say that it was normal and there is no need to panic about. Anyway, BUSD isn't the only stable coin that experience this little dip.

Tether was also reported last time to experience the same thing but I think many people will get alarmed since tether already have some issues before. BUSD was still a trusted stable coin because it was backed by Binance. As for BNB, it was also normal that it can dump like that because it's a volatile crypto and the bear market isn't over yet. Instead of worrying, why can we just use this moment to stock more coins?