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SBF
@SBF_FTX
1) Binance converts USDC --> BUSD, and we see the change in supplies. Thus begins the Second Great Stablecoin War. (The first one, fought in ~2018, ended with USDC and USDT edging out TUSD/GUSD/USDP.)
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Frank Chaparro
@fintechfrank
BUSD supply is on a tear, topping $20 billion this month for the first time ever BUSD supply as a share of the overall stablecoin market is at an all time high of 15.48% So far this month, the % of trades denominated in BUSD stands at 22%
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SBF
@SBF_FTX
Replying to
@SBF_FTX
2) What's different this time is: a) positive interest rates --> more revenue for stablecoins b) by now they've all learned the core lesson: NEVER EVER BLOCK REDEMPTIONS or your stablecoin will no longer be stable
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SBF
@SBF_FTX
3) At this point, we're probably the largest unaligned players in the stablecoin ecosystem. Bybit, the various blockchains, tradfi, and market makers are as well. (Worth asking what the futures are of USDK, HUSD, etc.)
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SBF
@SBF_FTX
4) Finally--it'll be interesting to see what emerges from the non-fiat-backed-stablecoin space, post-Luna and post-DAI-holding-USDC. My guess is that it will be something interest bearing or otherwise with some upside.
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Marc
@MarcTheBulll
Replying to
@SBF_FTX
2) USDC and USDT will continue to dominate the market due to their first mover advantage and large user bases.
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Sauce packets (3)
@QuadsofTruthh
Replying to
@SBF_FTX
wow what a hot take from such a bright minded individual who certainly is a not a wolve in sheeps clothing trying to convince people hes in it for altruism after scamming his entire customerbase
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