its reliance on US dollar based stablecoins, according to a Feb. 14 statement on Twitter Spaces by Binance CEO Changpeng Zhao, also known as “CZ.”
CZ gave the statement in answer to a question about the crypto industry using gold as a standard of value instead of the US Dollar. CZ agreed that it “makes sense” to use gold. However, “most people’s costs are still in fiat currencies.” For this reason, most people calculate their investment returns in dollars, which is why US Dollar backed stablecoins are “still important.”
However, CZ argued that the US government’s recent actions against US dollar stablecoins will probably lead the global crypto industry to rely on other currencies such as the Euro, Yen, and Singapore Dollar to back stablecoins, as he explained: “I think given the current pressure and current stances taken by the regulators on the US Dollar based stablecoins, I think that as you said the industry will probably move away to non US dollar based stablecoins[...]as a result of this we probably will see more euro based or other Japanese yen, Singapore dollar based stablecoins, so it's actually prompted us to look for more options in different places.
It has to be USD for as long as the world's commodities are still priced in USD. However the issuer doesn't have to be US based and the collateral doesn't have to be demoninated in USD.
Might wanna use Centric Rise $CNR. CentricWarriors CentricRise
no way.. the only reason why we are here is fiat earnings.. don't you get it
COTI = Djed thats the future! COTInetwork COTI
DJED powered by $COTI ! few
We need CHF stablecoins
Rats running.
First you need to make one…
Decentralization is the future Cardano is the future Djed stablecoin is backed by ADA.
Will be perfect sick ot this USD 💩
cz_binance binance should create a better stablecoin, example ticker: BCHF/CHF, as using the Swiss Franc will create worlds most stable Stablecoin 😃👍❤️
Best move 👍
How about stablecois being backed by Bitcoin? 😉
where nnevvinn and reserveprotocol at?
SEC fucks around and eventually finds out. News at 11
The era of gold backed stable coins is upon us . Paxg is a good one
Gold
Use my country BIDR 😄
DEJED is the next play of binance, he has many pools of this, it is his ace up his sleeve
True. Can you imagine the mess when the us dollar goes digital? Get in now, absorbe the risk now and benefit when that day comes. Freedom lies in crypto. No government dependence or control means you get to continue spending on what you want when you want how you want.
Algo stable coin backed by BTC
Queremos el peso mexicano de theter en Binance
Before the guys at Binance do anything, please note that BEURO looks kinda strange, funny or ugly in many languages, just my two cents :)
The end of an era continues... Right RayDalio ?
$BYUAN You will see. 🙂
Like chinese cbdc . Neat
中国🇨🇳政府是持有比特币最多的，请做空他们。且币安背后是中资，okx背后也是共产党撑腰。请打垮他们。中国政府一直在给币安充值！
Euro stablecoin when?
😮
Giddy up! Peg to the Euro! It’s stronger than the USD.