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Is the BUSD in your hand a "real" BUSD?

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The BusDs issued only on Ethereum are anchored directly by the regulatory guarantee, and BUSDs on the other 30 chains come across the chain.

原文标题：《你手中的 BUSD，是「真正」的 BUSD 吗？》

原文作者： Loopy Lu，Odaily 星球日报

SEC Will be banned. Paxos Stablecoin news continued to shock market sentiment.

The New York State Department of Financial Services is investigating, people familiar with the matter said this morning. Pax Dollar (USDP) and Binance USD (BUSD) StableCoin Issuer Paxos, the exact scope of the investigation is unclear. And beautiful. SEC Law enforcement officials have called Paxos A Wells notice is issued.

The regulatory stick came down this afternoon with an order from the New York State Department of Financial Services. Paxos Trust Co. stopped publishing more. BUSD Token. Paxos A spokesman declined to comment. Didn't respond to a request for comment.

Binance said Paxos Trust Co. informed Binance that it had been instructed to stop minting new stablecoins. BUSD. A spokesman for Binance said: "BUSD is a Stablecoin wholly owned and managed by Paxos therefore, the market value of BUSD will only decline over time. Paxos will continue to service the product, manage redemptions, and will provide additional information as required.

Paxos It is also assured that these funds are safe and fully covered by the bank's reserves."

And for the majority of users, people are more concerned about their hands. BUSD Whether it can sustain the dollar. 1: 1 Value anchoring. Odaily A search of the public data reveals that the non-ERC-20 BusDs in the hands of users are not directly backed by dollars, but are anchored through cross-chain packaging, but these assets are also transparently searchable on the chain.

Paxos Stablecoin How compliant are BUSDs?

According to Paxos Disclosed information, BUSD is approved and administered by the New York State Department of Financial Services (NYDFS).

It is worth noting that, The issuers of BUSD and BUSD are under the supervision of New York State, which has perfect financial regulation and strict regulation. Thus, it has long been understood that BUSD and USDC reserves should be rigidly payable in contrast to the less transparent USDT.

Paxos The latest reserve report shows that the cutoff. 2023 Year 1 At the end of the month, BUSD Reserve assets are 16, 155, 717, 896 The US dollar (approx. 162 Billion) net worth. If = nbsp; BUSD All destroyed and accounted for. Enough for all. BUSD Make the payment.

Paxos It is also assured that these funds are safe and fully covered by the bank's reserves."

Here's the question: yours. BUSD? Is that what you think it is?

In a statement, Binance said. BUSD By Paxos Published and owned by Binance, Binance licenses its brand only. But users need to note that you are in the hands of BUSD It may not be the same as above.

With the advent of the multi-chain era, the free flow of assets in the multi-chain has been widespread. On the other hand, cross-chain nodes have a lot of original assets and become security risks of assets (whether stolen or actively committed evil).

聚焦到 BUSD，该 Token 原生资产仅在以太坊发行，为 ERC-20 Token 。

你手中的 BUSD，是「真正」的 BUSD 吗？

(Photo: Paxos Official website)

This also means that only on Ethereum BUSD By Paxos In NYDFS Under the supervision of the user with 1: 1 The anchoring guarantee. Paxos The website also notes the deployment in the Polygon, BNB Smart Chain, Avalanche Binance-Peg BUSD And Paxos It is unrelated and not administered by NYDFS.

DeFiLlama The data show that at present. BUSD Circulate in 31 A chain of which Ethereum has. 113 Hundreds of millions of them are in circulation. On 48 Hundreds of millions are in circulation.

Other than Ethereum. 30 A chain, in circulation. BUSD Where did it come from?

A few of them come directly from Ethereum across the chain by issuing anchor assets on the target chain by cross-link Bridges, and most of them are "B-Tokens", namely "Binance-peg BUSD (Binance Package BUSD)".

你手中的 BUSD，是「真正」的 BUSD 吗？

(Issued on BNB Chain. 48.5 & have spent Hundred million "BUSD")

The difference can also be found through the blockchain browser, on Ethereum. BUSD Full name Binance USD, while in BNB Chain Is Binance-Peg BUSD.

For the user, the Binance-Peg they hold. Encapsulated by Binance, which holds assets on Ethereum and on the target chain. 1: 1 Foundry assets.

你手中的 BUSD，是「真正」的 BUSD 吗？

(Binance-Peg BUSD Certificate of reserve)

这一模式被命名为 B-Tokens，包括 BTC、ETH、USDT、BUSD 在内的 97 种 Token 均通过这一模式完成在多链的发行。

This means that users in other chains hold. BUSD, not directly provided by fiat money. 1: 1 Rather, it is indirectly implemented through the "fiat -- Ethereum native BUSD -- Binance-Peg BUSD" chain.

B - all Tokens reserve assets are stored in Ethereum address: 0 x47ac0fb4f2d84898e4d9e7b4dab3c24507a6d503. Users can check on the chain themselves.

Despite the transparency of this reserve model, it is still a "coin-coin" reserve support model. The model does not involve fiat money, and the Odaily Planet asked Binance if it would voluntarily seek to regulate the reserve model.

Binance responds: Binance is ready to assist regulators from around the world in finding the best way to level the playing field -- consumer protection is important to all of us. We want to create a sustainable ecosystem around blockchain technology.

Binance is always committed to protecting our users, and we work closely with regulators, law enforcement and industry leaders around the world to further improve the safety and sustainability of the industry, while providing the best service and protection for our users. We comply with regulatory requirements around the world and we do not comment on any specific business.

The market reacted violently

In BUSD After the implementation of regulation, the market response is fierce. CZ Did not explicitly say, but gave a side response.

This afternoon. Retweeted an old tweet of his own and hinted that it was aimed at BUSD And Binance's storm of public opinion. FUD, fake news or attacks, etc.

你手中的 BUSD，是「真正」的 BUSD 吗？

Curve Data shows that, as of the time of publication, v2 pool is inclined, wherein BUSD The quantity is about 1409 Ten thousand pieces, accounting ratio 88% DAI, USDC, USDT Total proportion 12% . BUSD: USDT The exchange rate is about 1: 0.9966 & have spent .

BUSD Battered, but perhaps just the opening salvo in the US regulatory storm.

TheBlock The editor-in-chief says there is an absolute fight going on at the Securities and Exchange Commission. After the Securities and Exchange Commission threatened to Sue. Will cease publishing. BUSD. Binance reviews other assets under U.S. jurisdiction. If they are under special scrutiny. USDC, I wouldn't be surprised. A few days ago, a senior executive at a trading platform told me that the SEC was in fact embarking on its own crypto version of "Night of the Long Knives."

Messari Founder Ryan Selkis He publicly stated, "I will be working with Brian (Coinbase CEO Brian Armstrong); Jesse (Kraken Founder Jesse Powell and dozens of others. I will spend every ounce of energy, financial and political capital I have to fight the morally corrupt and corrupt enemies of cryptocurrencies."