Binance VD tror att investerare kommer att gå över till Stablecoins som inte är USD

• Binances vd Changpeng Zhao sa att kryptoindustrin gradvis kommer att gå över till stablecoins som inte är dollar. 
• CZ noted that dollar-backed stablecoins are “still important” as “most people’s costs are still in fiat currencies.”
• Han förutspådde att branschen gradvis kommer att förlita sig på andra valutor som Euro, Yen och Singapore Dollar för att skapa stabila mynt.
• Zhao stated that algorithmic stablecoins will also have their place in the crypto market but cautioned that they are “inherently gonna have risks.”

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The world’s largest crypto exchange, Binance, had made headlines earlier this week when the US Securities and Exchange Commission (SEC) utfärdat ett Wells-meddelande till ägaren av BUSD stablecoin, Paxos. Intressant nog kommer blockchain-betalningsföretaget baserat i New York inte längre att skapa och ge ut BUSD stablecoin. Intressant nog sa VD Changpeng Zhao, även känd som CZ i kryptorymden, att branschen gradvis kommer att gå över till stablecoins som inte är dollar. 

I en Twitter Spaces on Feb. 14, CZ stated that the crypto industry around the world will gradually move towards non-USD stablecoins. When asked  a question about the crypto industry using gold as a standard of value instead of the US Dollar, the Binance executive stated that it “makes sense” to use gold while noting that most people determine their net worth and portfolio in fiat currencies like dollars. 

CZ noted that dollar-backed stablecoins are “still important” as “most people’s costs are still in fiat currencies” and they calculate their returns in profit or loss in terms of fiat. However, the Binance co-founder believes that due to the recent actions taken by the US authorities against the existence of dollar-based stablecoins, the crypto industry will gradually rely on other currencies such as the Euro, Yen, and Singapore Dollar which will be used to back stablecoins. 

“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,” said CZ. 

Interestingly, Zhao stated that algorithmic stablecoins will also have their place in the crypto market in the near future but he cautioned that they are “inherently gonna have risks.” This can be confirmed from the collapse of several algorithmic stablecoins in 2022 like the UST, USDN, and others. The collapse of Terra was one of the biggest financial disasters around the globe. 

The Binance CEO stated that the only way for algorithmic stablecoins to work is that the creators reveal the risks to the users in a transparent manner allowing them to “clearly decide what is going on” and make up their own minds about which stablecoins they want to add to their portfolio. 

Dessa uttalanden från Binance-chefen kom bara en dag efter att Paxos bekräftat att de kommer att sluta utfärda BUSD på grund av instruktionerna från New York Department of Financial Services (NYDFS). Dessutom hävdade SEC också att BUSD kan betraktas som ett oregistrerat värdepapper. 

Paxos confirmed it would stop minting BUSD on February 21 and would follow the NYDFS’ directives. The blockchain infrastructure company noted that all existing BUSD tokens will be fully backed and redeemable through Paxos Trust until “at least February 2024.”

 “Binance will continue to support BUSD for the foreseeable future. We do foresee users migrating to other stablecoins over time. And we will make product adjustments accordingly. eg, move away from using BUSD as the main pair for trading,” said CZ while adding that “we will be reviewing other projects in those jurisdictions to ensure our users are insulated from any undue harm,” said CZ in a Twitter-inlägg.

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