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by japoco
1282 days ago
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This is not what is happening here, the USDC peg to the dollar has nothing to do with this.
The problem is that Binance converts every stablecoin you deposit there to BUSD, and so if you want to withdraw say USDC or USDT even they’d have to convert them, which is apparently what they’re having trouble to do. |
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I never said it did.
The problem is that Binance converts every stablecoin you deposit there to BUSD
The real problem is that Binance can do whatever *they* want with your deposits --- including refuse to return them.
The real problem is that the crypto market is about as far removed from *trustless* or *decentralized* as is imaginable or possible.
The real problem is that people who say they don't trust government will readily trust FTX or BlockFi or Voyager or Celsius or Binance or Bitfinex --- all of which have been shown to be far less worthy of it in my opinion.