Summary:
Circle CEO Jeremy Allaire supports Binance’s latest stablecoin announcement.Binance said USDC, TUSD, and USDP would be removed as tradeable assets.Users would be able to deposit and withdraw these three stablecoins regardless of the change, per the announcement.Allaire believes the move could increase USD Coin’s utility in the crypto market.Wintermute’s CEO Evgeny Gaevoy echoed Allaire’s opinions and said the decision should bolster overall liquidity.
Jeremy Allaire, the CEO of USDC Issuer Circle, publicly voiced support for Binance’s decision to remove three stablecoins including USDC as tradeable assets on the exchange in favor of BUSD, Binance’s own stablecoin token.
Allaire tweeted that the move “is a good thing” and increases USDC’s utility in the market.
Helpful perspective from @wintermute_t , which is spot on. Converged dollar books on Binance – now same as on FTX and Coinbase – is a good thing. USDC utility just increased. https://t.co/QWfMx7f1cZ
— Jeremy Allaire (@jerallaire) September 5, 2022
On Monday, leading crypto exchange Binance announced that three stablecoins – USD Coin (USDC), TrueUSD (TUSD), and Paxos Standard (USDP), would be removed as tradeable assets. The change is set to take effect from September 29, 2022.
Additionally, Users with holdings in these three stablecoins would have their balances converted to BinanceUSD (BUSD), the stablecoin powered by CZ’s exchange. CEO Changpeng Zhao confirmed that Binance would not delist these tokens, despite rumors following the announcement.
Not delist. You can still deposit and withdraw USDC. Just merging all liquidity into one pair. Best price, lowest slippage for users.
– CZ