Changpeng Zhao (CZ), CEO of Binance, the world’s largest cryptocurrency exchange, made detailed statements about the news that Paxos’ BUSD production will be stopped.
Binance CEO CZ recently posted on his official social media account. in his postBinance USD from Paxos of the New York Department of Financial Services (NYDFS) (BUSD) of the production to be stopped the news he wanted confirmed. As a result of the news conveyed to him by Paxos, the CEO said that BUSD’s market price has increased over time. will decrease in value while expressing your funds are safe assured investors that
CZ says Paxos will stop production but operational processes to execute continue said he would. Expressing that as a result of this, the market value of BUSD will decrease over time, CZ said that Paxos has had all reserves in the past. safe that and obligations completely that you meet stated that he guarantees.
According to the information given by the CEO, Paxos in the past many audit firms repeatedly by audited And found safe.
CEO, Binance’s BUSD keep supporting but over time people will switch to different stablecoins. to cross He said he will start. In this context, users certain precautions Suggesting that it should buy CZ, BUSD-containing pairs abandoned over time He emphasized that it could be a healthy precaution. In addition, considering this situation, the stock market product adjustments was among his statements. In line with a Binance spokesperson who made a recent statement, CZ said: other projects of user interests preservation for will be reviewed expressed.
On the other hand, CZ US Securities and Exchange Commission (SEC) about the case between Paxos and to the public have more than the given information not expressed. Noting that this situation is between the SEC and Paxos, the CEO said that BUSD is still a security don’t think you’re he also said.