I am not over-reacting to this BUSD FUD. Basically... contrary to Terra and other collapses, nothing here is lost. The assets exist. They are 1:1 covered, even NY isn't disputing that. They just say it is a "security"... and worst case they order paxos to stop permanently issueing new, and give some time limit to people to convert.
Terra stable and other shit that went to zero is different than this. People panic when they don't understand. Yes, btc is at the crossroad now, but not due to paxos and busd.
Terra stable and other shit that went to zero is different than this. People panic when they don't understand. Yes, btc is at the crossroad now, but not due to paxos and busd.
The current market situation is influenced by FUD and the Fed's upcoming CPI announcement.
I will give Update about BTC from my team 👀👀
I will give Update about BTC from my team 👀👀
BNB token plunged due to U.S. financial regulators' recent crackdown on Binance's BUSD stablecoin, while the prices of BTC and Ether are flat. Besides, all market participants are waiting for the release of CPI, which could be a signal of being a recession or not.
BNB's uptrend since Jan has already been broken. As an essential component of the crypto space, stablecoins have the widespread application of connecting retail investors and exchanges. Also, the market cap of BNB and even Binance heavily relied on the adoption of BUSD
BNB's uptrend since Jan has already been broken. As an essential component of the crypto space, stablecoins have the widespread application of connecting retail investors and exchanges. Also, the market cap of BNB and even Binance heavily relied on the adoption of BUSD
Ahead of the CPI data, risk aversion among block traders reached a new high amid a sharp increase in market uncertainty. Massive long-vol positions were bought, and directional bearish trades were not uncommon, making the vol surface heavily skewed to the bearish side.
I like scripts like this. If it falls and then rises, this is a bullish signal.