As we reported on Kriptokoin.com, Binance CEO and SBF had an argument yesterday. It was also revealed in a whatsapp group that CZ accused SBF of trying to destabilize USDT. While stablecoins continue to be on the agenda in the crypto money markets, an explanation came from the CEO of Coinbase. Brian Armstrong said that anticipated cryptocurrency regulations could have positive consequences for another stable altcoin project, USDC. Here are the details…
Armstrong thinks that the regulations will elevate this altcoin project.
The most popular topic in the crypto money market in recent times has been stablecoins. The collapse of Terra’s stablecoin project, UST, left huge havoc in the cryptocurrency markets. However, many people reacted strongly to this collapse. In particular, the owner of the project, Do Kwon, was at the center of the reactions. The crypto ecosystem has had a tough time in the ongoing process. However, the collapse of UST has triggered concerns that other stablecoins may experience the same issues. In addition, stablecoins BUSD, USDT, USDC, which are the pioneers of the industry, also entered into a great competition.
In this process, the biggest work was done on gaining the trust of investors. In fact, the studies, developments and announcements still continue to renew confidence. However, Brain Armstrong recently made a call asking users to convert their USDT to USDC. Not long after this call, another statement came from Armstrong. Armstron said that a possible cryptocurrency regulation would help USDC bounce.
Coinbase CEO: This call is not an attack on USDT
Brian Armstrong, CEO of Coinbase, one of the most popular exchanges in the world, continues his support for USDC. In fact, Armstrong made a big claim in his statements, the CEO stated that USDC could be the digital cryptocurrency of the USA. The famous name stated that with the coming of regulations in the crypto industry, USDC will become the leader among stable altcoin projects. When asked about his call to convert USDTs to USDC, Armstrong argued that his call was not an attack against USDT.
Coinbase CEO said that USD Coin is one of the most trusted and respected stablecoins on the market. He also added that the best way to secure assets would be to convert USDTs to USDC. Coinbase also announced that it will waive fees for converting USDT to USDC, with the following words:
The events of the past few weeks have put some stable altcoin projects to the test. It also showed Security related issues.. We believe USD Coin (USDC) is a reliable and respected stablecoin. That’s why we’re making the transition smoother. Starting today, we are waiving fees for global retail customers to convert USDT to USDC.
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