BUSD Future - page 2. | Bitcointalksearch.org

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legendary

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Quote from: noormcs5 on March 13, 2023, 03:03:28 PM

Recently developments do not favor BUSD, When the founder of the BUSD do not feel comfortable in keeping his money in BUSD, why we people should keep our stable coins in BUSD ?

CZ is not the sole founder of the BUSD. BUSD stablecoin was launched in partnership by two companies - Binance and Paxos. Therefore, it wouldn't be accurate to attribute the founding of BUSD to a single individual.

On February 13, the Paxos CEO and Co-Founder of BUSD, Charles Cascarilla, released a statement concerning the future of the cryptocurrency:

Quote

BUSD will remain fully supported by Paxos and redeemable to onboarded customers through at least February 2024. New and existing Paxos customers will be able to redeem their funds in US dollars or convert their BUSD tokens to Pax Dollar (USDP), a regulated US dollar-backed stablecoin also issued by Paxos Trust.

The complete statement can be found here: https://paxos.com/2023/02/13/paxos-will-halt-minting-new-busd-tokens/

jacafbiz

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I think this post is a response to CZ saying he is converting Binance's $1 billion reserve to BTC, ETH, and BNB. This is a rhetorical response and should not be taken as he not having trust in BUSD. I don't think BUSD is the problem, it is a PASO problem and has other products too that are a big concern for them like PASOGold. This is part of the circle that FUD will continue to flow around and people need to be careful on who to take serious now because I have a feeling that at the end of the day BUSD will be fine, provided USDC and especially if Tether USDT is fine

o48o

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Are you talking about binance swapping BUSD Stablecoin to btc, eth and bnb? Or have i missed some news where the founder, that is Charles Cascarilla to my knowledge has said about BUSD? Because last i heard he said we will fight the issue in the court.

But i think that this issue could move to the future as at the moment regulators have their hands full when there seems to be ironically real banks falling in US more then crypto exchanges.

Zanab247

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I guess people will continue to purchase BTC and Ethereum and hold for better future to maintain the opportunity to earn well in the future because, there is a bold confidence for both BTC and Ethereum investors that the price of BTC and Ethereum will increase higher soon. Many people will continue to prefer Ethereum and BTC than BUSD because, they have tested it in the past and they believed that BUSD cannot give what BTC and Ethereum will give in a long term investment.

noormcs5

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Recently developments do not favor BUSD, When the founder of the BUSD do not feel comfortable in keeping his money in BUSD, why we people should keep our stable coins in BUSD ?

I was reading a tweet below and thought it was worth sharing. We need to think how market players are fooling the retailers. Sad

Topic: BUSD Future - page 2. (Read 156 times)