Binance boss CZ distances his exchange from the dollar-pegged token under fire from the SEC: 'That's not something we created'
CZ said that Paxos' holdings of cash reserves would mean any BUSD holders will be able to get their money back once the crypto firm stops minting the token – but added that the SEC's latest move could be a blow for other dollar-pegged stablecoins.
"It's an orderly wind-down, and that's a good thing," he said."People holding BUSD should not lose or be expected to lose any value." "The amount of pressure put onto stablecoins is quite significant – there's multiple agencies trying to apply pressure there," he added."I think this is just going to shrink the dollar-based stablecoin market, so we're exploring what are the other options."
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