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Author Topic: USDC, USDP & TUSD will be removed on Binance exchange  (Read 82 times)

indian_blog

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USDC, USDP & TUSD will be removed on Binance exchange
« on: September 06, 2022, 08:14:20 AM »
Source: https://techcrunch.com/2022/09/05/binance-issuer-of-stablecoin-busd-to-discontinue-support-for-usdc-usdp-and-tusd/

Okay so since it's about competition, we only have until September 29 to see USDC, USDP and TUSD on the Binance exchange. If we don't convert them on or after Sept 29, they're automatically gonna convert them to BUSD.

Anyways, I still have USDC on Polygon mainnet, Solana, etc., in my non-custodial wallets so after September 29 I need to convert them to USDT before depositing.

Any thoughts, reactions or opinions about this one guys? Would like to hear more from the community. Thanks in advance.

CryptoboyRamesh

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  • Re: USDC, USDP & TUSD will be removed on Binance exchange
    « Reply #1 on: September 07, 2022, 04:24:16 AM »
    Well all stable coins pegged to the us dollar are under real pressure.

    why is this?

    all us citizens are allowed to buy $10000 worth of i bonds every year.

    330,000,000 x 10,000 is a big pool of possible cash.

    3,300,000,000,000 this is 3.3 trillion pot of cash possible every year .

    normally I bonds were paying low interest. 1 or 2 or 3%. so while they are perfectly stable and pegged to the usd rates sucked.

    but now buy

     1500 get 9.62% for six months say april 1 to oct 1
     1500 get 9.62% for six months say may 1 to nov 1

    so on and so forth this means a ton of money leaves crypto and goes to 9.62% coins

    especially stable coins which are known to crash and burn and don’t pay a lot more than 10% in any case.

    the few that did crashed out badly.

    So I think binance knows many stable coins are in a lot of trouble 😈 so I hope to see more coins pegged to the USD suffer due to these high interest I bonds.

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    Muneeb

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    Re: USDC, USDP & TUSD will be removed on Binance exchange
    « Reply #2 on: September 07, 2022, 01:10:18 PM »
    This is not true that the Stable coin will be deleted because so many peoples are now save their coins in the stable coin and they just wait when the market is down they buy the different coins in a low price and hold that coins in their wallet when the coins price go high they sell their coins in a good profit.

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    Review_Master2

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    Re: USDC, USDP & TUSD will be removed on Binance exchange
    « Reply #3 on: September 10, 2022, 08:24:21 AM »
    I am on the Binance side on this, I don't understand why we need many stablecoins. I never consider stable coin is an investment, so I don't really pick which one should I use. The only reason why I have stable coin is just to prepare for an entry on market or just to send it to other people so its more of their option rather than mine

     

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