Circle warned regulator about rival Binance stablecoin last year, Bloomberg says

"Binance didn't have enough reserves to back the tokens it issued"

Hmm, sounds not so stable

An act of pure altruism I’m sure

Stabbed in the un-backed

Usdc is not you’re friend. Owned by black rock.

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Battle of the Stablecoins,

Coming to a market near you.

tldr; Circle filed a complaint with the New York State Department of Financial Services last year over rival Binance’s “mismanagement of reserves” for its own tokens. The regulator ordered Paxos to stop issuing the Binance USD stablecoin, citing "several unresolved issues related to Paxos' oversight of its relationship" with Binance over the branded stablecoin.

This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today's trending news here.

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The SEC is alleging that BUSD is an unregistered security.

The next stage of the CEX wars

Crypto 2: the exchange wars

Just like CZ warned everyone concerning FTX? Seems like some retribution in the works --- SBF is politically tied to some important people...

circle rats