Describing Tether as a “black box” Binance CEO cz_binance says that the crypto exchange is working with “as many stablecoins as possible” to spread out the risks that come with stablecoins.
and ceased minting new BUSD stablecoins, following an order from the New York Department of Financial Services .
As a result of the regulatory and transparency risks, CZ revealed that Binance is working on algorithmic stablecoins as well as diversifying its stablecoin partnerships to spread out potential risk. "So our approach is, you know, given everything has some risk, let's just diversify and see which one grows bigger."
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