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Stop with spreading missinformation.
Isn't Bitfinex the exchange partner for tether?
Ngl, Binance should probably be slapped for anticompetitive activity for this.
Kate Rooney doesn't know what she is talking about. It's all about reading off the teleprompter…
So much drama with these crapcoins. 😂
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Sounds like a liquidity problem to me.
This is a huge blow to the reputation of USDC which seemed to be having a pretty bad time lately. By making USD Coin a pariah there is no doubt that all this was planned in advance and recent Circle actions to freeze addresses only aggravated the situation. Looks like now USDC can be crossed off the list of decent stable coins.
I think that in the future this will not apply to usdt. I would not give up tether if I were Binance, because there is a risk of losing users.
I think Binance made the right decision in relation to the USDC. This stable coin has long been a cause for concern due to the lack of sufficient collateral.
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On the one hand CZ policy is disgusting and I don't approve of what he is doing lately, but on the other hand I understand his worries about USDC that has become extremely unreliable crypto and can depeg at any moment.
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Good thing what CZ did. Protecting its user base from a unreliable stablecoin like USDC. If they continued on using USDC which has a risk from depegging anytime soon.
I don't think Tether is going to be delisted on Binance anytime soon. People trust USDT and it has no current issues.
The other exchanges should follow Binance's footsteps. No one should trust an unaudited stablecoin like USDC.
A good move by CZ!!! No one wants to use a sketchy stablecoin!
I don't see USDT out of Binance. I think CZ knows that most of the crypto community knows that USDT is to be trusted.
Maybe CZ knows that USDC has a liquidity crisis? What CZ has done is good, so we won't be anywhere near when USDC depegs lol
There are multiple of probable reasons why Binance stopped supporting USDC in this case. Its recent issue with Tornado Cash that trumps over privacy concerns. Or USDCs audits that is still nonexistent. You choose your reason. Tether and BUSD is much more safer than USDC at the moment.
At this moment we all know why USDC has been delisted. Its severely unsecure. I don't know why people are still using it.
All exchanges should stop supporting a stablecoin like USDC. No audits, no records of its reserves. No one should trust a stablecoin like that.
The US Government should investigate Coinbase, Circle and USDC with the number of lawsuits that is against them. A ton of people already have bad experiences with the company and the stablecoin itself but no one has given attention to it. But this is a good step for Binance for keeping their users safe.
This is definitely NOT good for Circle in any way, contrary to everything they say at the moment. It's just an illusion to try to keep people who own USDC from selling this stable coin but it won't help because people know the truth and know that it will only get worse.
Why they don't support USDC is clear to me now. But what's next?
And the reason why they did it is clear to me.
Now I seem to begin to understand what was meant by the phrase "USDC may become the next UST". The relevance of this stable coin has already started to fade although only a few days have passed since halting support. It is reasonable to assume that it will only get worse for USDC from now on.