Binance, with its sneaky intervention in the FTX case, drew unwanted attention for your own ecosystem, and now, the New York Department of Financial Services has ordered Paxos to stop issuing BUSDand from ALP Exchange they consider that it was something of “be expected”.
ALP Exchange CEO Vitalii Bodnar, in conversation with Cointelegraph, has made it clear that Binance is not well received in the US marketand it is logical that this is so, since Changpeng Zhao, with its implications in the FTX case, was generating interest about Binance.
The CEO considers that this has played against this exchange, and now, from the United States government, are showing interest in further regulating the development of activities and associations on American soil.
In addition to this, he expressed himself regarding the price of BNB, Binance’s native token: “due to current events, this ecosystem will slow down and become devalued”, although he warns, that these are unpredictable issues, but it is necessary to carefully observe the development of the consequences of the stoppage of the issuance of BUSD.
Binance USD is currently the third largest stablecoin in market capitalization, and many companies with great financial and cryptographic track records coexist in the Binance Smart Chain ecosystem, so does not recommend to private traders, try to “catch the BNB price drop”.
The truth is that while this is happening, Tether continues to gain ground within stablecoins and has positioned itself with more than 50% of the marketfar surpassing BUSD and USDC which are the other two most used stablecoins in the ecosystem.
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