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News

CZ Don’t Believe Circle Report BUSD And Binance To Regulators, “Circle Is Smarter Than That”

February 16, 2023 - Around 2 mins mins to read

Key Points:

  • Changpeng Zhao (CZ), CEO of Binance held an AMA to answer user questions on Feb. 14.
  • Much of the discussion focuses on stablecoins and specifically BUSD.
  • Amid the information about Binnace and Circle’s FUD, CZ said he did not believe in those baseless rumors.
In a wide-ranging Twitter Spaces AMA on February 14, Binance co-founder and CEO, Changpeng Zhao (CZ), addressed the ongoing FUD around stablecoin BUSD.
CZ Don't Believe Circle Report BUSD And Binance To Regulators, "Circle Is Smarter Than That"

As mentioned in an earlier Coincu News article, Bloomberg reported that Circle had directed the attention of regulators in New York to complaining to regulators about the fraud Binance’s BUSD manager.

Faced with this issue, he said he believes recent reports that Jeremy Allaire, the founder of Circle, has secretly told New York regulators to consider Paxos and BUSD are baseless.

“We want to continue to work with industry players. I have spoken to Jeremy on multiple conference calls, I wouldn’t take that Bloomberg article too seriously.”

CZ Don't Believe Circle Report BUSD And Binance To Regulators, "Circle Is Smarter Than That"

From CZ’s point of view, he thinks any professional player in the industry knows that what hurts one player, hurts others. If BUSD was affected, USDC would have also been heavily bought back and seen its market cap shrink.

As for whether BUSD is still safe, Changpeng Zhao said: “Even if new BUSD minting stops, the current circulating supply is safe and no user should suffer any loss.“

Binance has always worked with many stablecoin partners, will continue to do so, and continues our efforts to help build an open ecosystem globally.

Aside from the issues surrounding the BUSD stablecoin FUD, CZ also said on Twitter Space on February 14 that he doesn’t hold any NFTs, however he really thinks NFT technology is awesome.

“I’m not an art collector. I don’t listen to much music either. I come from a programmer background and I want to run a company. If you’re reading my blog, you’re probably already know that. I have some NFTs, but I really don’t remember the wallet address I used to receive them.”

He explains

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Foxy

Coincu News

News

CZ Don’t Believe Circle Report BUSD And Binance To Regulators, “Circle Is Smarter Than That”

Key Points:

  • Changpeng Zhao (CZ), CEO of Binance held an AMA to answer user questions on Feb. 14.
  • Much of the discussion focuses on stablecoins and specifically BUSD.
  • Amid the information about Binnace and Circle’s FUD, CZ said he did not believe in those baseless rumors.
In a wide-ranging Twitter Spaces AMA on February 14, Binance co-founder and CEO, Changpeng Zhao (CZ), addressed the ongoing FUD around stablecoin BUSD.
CZ Don't Believe Circle Report BUSD And Binance To Regulators, "Circle Is Smarter Than That"

As mentioned in an earlier Coincu News article, Bloomberg reported that Circle had directed the attention of regulators in New York to complaining to regulators about the fraud Binance’s BUSD manager.

Faced with this issue, he said he believes recent reports that Jeremy Allaire, the founder of Circle, has secretly told New York regulators to consider Paxos and BUSD are baseless.

“We want to continue to work with industry players. I have spoken to Jeremy on multiple conference calls, I wouldn’t take that Bloomberg article too seriously.”

CZ Don't Believe Circle Report BUSD And Binance To Regulators, "Circle Is Smarter Than That"

From CZ’s point of view, he thinks any professional player in the industry knows that what hurts one player, hurts others. If BUSD was affected, USDC would have also been heavily bought back and seen its market cap shrink.

As for whether BUSD is still safe, Changpeng Zhao said: “Even if new BUSD minting stops, the current circulating supply is safe and no user should suffer any loss.“

Binance has always worked with many stablecoin partners, will continue to do so, and continues our efforts to help build an open ecosystem globally.

Aside from the issues surrounding the BUSD stablecoin FUD, CZ also said on Twitter Space on February 14 that he doesn’t hold any NFTs, however he really thinks NFT technology is awesome.

“I’m not an art collector. I don’t listen to much music either. I come from a programmer background and I want to run a company. If you’re reading my blog, you’re probably already know that. I have some NFTs, but I really don’t remember the wallet address I used to receive them.”

He explains

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Foxy

Coincu News