2023-10-25 20:11:14

Binance USD (BUSD) To Spark The Second Great Stablecoin War With USDT FTX CEO

ZyCrypto.com

By Aliyu Pokima

After statistics show the coin’s increasing market capitalisation, Sam Bankman-Fried has tipped BUSD to ignite a new stablecoin war with USDT.
BUSD has taken a considerable share of the market from USDT after its value increased by 15% in two years.
Binance decided to auto-convert TUSD, USDC, and USDP into BUSD, sparking a massive rally for the stablecoin.

Stablecoins, which are often referred to as the backbone of the industry, may soon experience a second great stablecoin war fought by market leader USD Tether (USDT) and fast-rising Binance USD (BUSD).

Sam Bankman-Fried, the CEO of the top centralized cryptocurrency exchange FTX says that the rise of Binances stablecoin, BUSD, in the past months indicates a new competition for the market share of rivals in the sector that may ignite a new war.

#policy #binanceusd #busd #USDT #Stablecoin

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