Paxos has halted minting of BUSD because the government hates crypto and people. Since then BUSD market cap has dropped from 16 billion to 8 billion.
I’m wondering what will happen with BUSD in the coming months. Like is it just going to die off as more and more BUSD is redeemed and none is minted? Or is Binance looking for another solution to replace Paxos? I haven’t been able to find any takes on this in my googling.
I have some BUSD in defi earning 5% yield and want to keep it there until the yield goes away. But it’s tempting to move it now because of the FUD.
4 thoughts on “What’s the future of BUSD?”
It will be slowly phased out, you can redeem it to $s by April 2024.
While the future of BUSD remains uncertain, it’s clear that USDT has emerged as the dominant
i cant answer to this but if i were to collect 5% yield i would just purchase short term treasury bills, not BUSD
I don’t know about you all, but I’ve never used BUSD in my life…