.cz_binance has dismissed the report as 'FUD'
They added that there had never been any impact on user redemptions and that no one else had been affected by this issue despite minor discrepancies appearing in the data.preemptively dismissed the Bloomberg report as"FUD" in a recent tweet while seemingly stressing that BNB remains in fourth place by market capitalization.
The BUSD controversy is yet another case that further highlights the importance of proper asset management by stablecoin operators, especially as some of them trailblaze into new frontiers like algorithmic stability mechanisms. The collapse of TerraUSD that took place last May serves as a stark reminder to stablecoin owners to stay vigilant.
It remains to be seen just how much mistrust this incident will sow amongst users, who depend on these issuers to maintain a measure of security against volatile crypto markets. Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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