Binance USD's $16B Market Cap Up for Grabs as SEC-Paxos Suit Stirs Up Stablecoin Rivalry

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“Paxos' decision to stop issuing BUSD will profoundly alter the stablecoin space and upends a pillar of Binance's strategy for global crypto dominance,” said Kaiko's Clara Medalie. Tether’s USDT emerges as a likely winner sndr_krisztian reports.

By maintaining a fixed price, usually pegged to the U.S. dollar, the tokens are essential to facilitate trading digital assets on exchanges and transfer value between traditional fiat money and cryptocurrencies.

, said in an email. “The winner will most likely be Tether, as we are seeing millions of dollars of inflows to USDT on Binance.”Said Kaiko’s Medalie: “USDC also has much to gain with the absence of BUSD, and it will be interesting to see if Binance re-lists the stablecoin.”raised concerns that Circle might be the next target of the SEC’s enforcement campaign on stablecoin issuers.

“It may not impact their business too much,'' Conor Ryder, research analyst at Kaiko, said. “The damage is likely mainly reputational for now, especially after phasing out USDC and other stables.”It’s possible that the Paxos withdrawal may not be the end of Binance’s stablecoin aspirations.

 

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binance sndr_krisztian USDT can't be bought in Canada. You can only swap for it in decentralized exchanges.

binance sndr_krisztian Tell me the Tether guys are not behind this. This time its not some algo stable, its open warfare.

binance sndr_krisztian El demócrata GaryGensler de la SECGov Esta afectado a millones de personas en todo el mundo NoticiacriptoC stacyherbert HeverCastroB coinbase bgarlinghouse cz_binance brian_armstrong BitcoinMagazine maxkeiser nayibbukele

binance sndr_krisztian I thought paxos BUSD wasn't the same.

binance sndr_krisztian I wouldn't believe in myself like that... Binance and BNB №1! 🫡🚀🌟

binance sndr_krisztian USDT will gain more popularity then

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