3min chapter

We Study Billionaires - The Investor’s Podcast Network cover image

BTC127: Long-Term Holders Driving the Bitcoin Market w/ Dylan LeClair (Bitcoin Podcast)

We Study Billionaires - The Investor’s Podcast Network

CHAPTER

The State of Bitcoin and the Tethers

BUSD was kind of the Binance, Raps stablecoin. PAPSOS issued and that kind of it's like $20 billion with the value. CZ did this nice trick where they took these assets, not just BUSD, but also Bitcoin, Ether,. They put them in a smart contract address and then issued the same tokens on BNB chain. The data forensics came in there said, Oh, wait, you guys were actually issuing this BUSD token under collateralized. You were minting billions of dollars at a time of free money, at least temporarily, unreserved. And so I think the TLDR is the dollar rails are going to be headed.

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