I hold seeing a whole lot of FUD about Binance, specially BUSD. And I need to dispel it.
I don’t have any Binance holdings, and have by no means even used it. I just hate seeing FUDDERS making an attempt to take down the entire market.
BUSD is definitely issued in partnership with Paxos Trust firm. I don’t know precisely what that entails, however it seems to be to me like this was accomplished to separate Binance totally from the 1:1 backing and to provide it a US regulated unbiased backing.
Paxos is registered and regulated in New York State and Paxos follows the NYDFS tips for portfolio administration always, additionally all their holdings meet the US GAAP.
Finally, and most significantly, WithumSmith+Brown, PC, an unbiased third-party accounting agency performs a full monthly audit on BUSD and attests to the 1:1 holding each month, and it is publically out there here: https://paxos.com/busd-transparency/
Yow will discover the knowledge I learn right here:
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