[madsbuch]

1. It was said that Binance treats BUSD and USDC as the same currency 2. It was said that there is a high number of USDC withdrawals

    If Binance had USDC reserves they would not need to burn BUSD

Well, if they didn't provide the service of treating the currencies as the same, they would have been able to fully cover. However, they do, so it is expected that they need to convert. All in all, it seems perfectly natural what they do.

[nailer]

> It was said that Binance treats BUSD and USDC as the same currency

Yes, that is a mistake, trust in Circle is not the same as trust in binance

> service of treating the currencies as the same

Replacing customer’s investments is not a service, particularly if it makes it more difficult to withdraw the currency.