of the USA stablecoinAfter the pressures of the crypto industry, a Terra USD ( TOP) to avoid the crisis stablecoin diversity came to the fore.
For over a year, the negative mood over the crypto industry has not passed. The bear market, initiated by the Terra crisis, shows its effect strongly until the recent stablecoin activity. With every negative news, the volatility and sharp movements in the cryptocurrency market began to aggravate investors.
In the days when action was taken to ensure regulatory clarity, the diversity of stablecoins came to the fore in order to prevent the chaos environment that may be created by the pressures on the US side. Binance, listing many unknown stablecoins, ignited the fuse of crypto rescue operations.
Curse of Stablecoin: US Editions
the two most important regulators of the United States. SECAnd CFTC is making moves to regulate and control the crypto industry. On the other hand new York editor also took part in this struggle. The New York regulator came to the fore when it launched an investigation into Paxos and the BUSD it issues. The indirect involvement of the SEC and the US Department of Justice in the pressure on BUSD has revealed the clarity of the US on stablecoins.
In our interview with Efe Bulduk on March 11, various statements about stablecoins came from Bulduk. We found He stated that the US can intervene wherever dollars enter and stablecoins are the first area to be regulated. According to the information reported by Bulduk, BUSDAnd USDCThis is one of the most important reasons for the troubled processes in the world.
The fact that the pressures even jumped to BUSD, in which billions of dollars were traded, started to make investors nervous. In the period when these pressures intensified, Tether (which attracted volume and investors) USDT), 75 billion dollars it almost started to become a “monopoly” by reaching a market value close to it. Where sanctions, pressures and regulations are spoken, arrows to USDTWhat could happen if it was turned over drew attention.
Moreover Efe We foundthat U.S. regulators will suppress the crypto industry until they get their hands on it, and that these processes He claimed it could happen often.
Why Does Binance Support the Stablecoin Diversity?
BinanceCEO Changpeng Zhao ( CZ ), signaled that they will create stablecoin diversity on Binance, addressing stablecoin pressures that have gained a heavy spot on the agenda. This move has managed to attract attention among the stablecoin problems.
Terra USD, the chief architect of the Terra crisis ( TOP ), had dragged the crypto market to the bottom after the depeg and crash. In the Terra crisis CZstated that he wants to save the crypto industry and will fight for it. CZ, months later FTX He also assumed the identity of a savior in his problems. The one billion dollar fund he created to recover the markets can be given as an example.
Finally CZ introduced stablecoin diversification in an effort to save the crypto industry from the pressures on stablecoins. Binance has listed many as yet unknown stablecoins. Moreover CZsignaled that many more stablecoins could be listed.
Supporting multiple stablecoins, always. More to come. https://t.co/5W1mHzOjoG
— CZ 🔶 Binance (@cz_binance) March 11, 2023
The reason for the diversification of stablecoins stands out as a move against US pressure. we found As he mentioned, stablecoins, which is an area where the dollar rotates, will not feel comfortable without seeing regulation. In such a case, “monopoly” and “concentrate on money” stablecoincould crash the entire crypto market in the first edition.
For this reason, there is an effort to create diversity in the crypto industry, just like in cryptocurrencies, in the case of stablecoins. one of the pioneers of this CZ, again a terraAnd FTX It works hard to avoid liquidity problems like in the crisis. Because the emerging liquidity crisis can drag all crypto organizations to the brink of bankruptcy.
in the crypto industry stablecoin variety It also enjoys support from most crypto investors. It is thought that it would be healthy to distribute the money accumulated in the top four stablecoins to all stablecoins.
