AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
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.