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๐Ÿšจ Paxos-Binance USD Issue Sparks Concerns over Stablecoin Oversight and Backing ๐Ÿค”

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t.me/matrixportupdaโ€ฆ

๐Ÿ”ข What You Need to Know in 10 Bullet Points: ๐Ÿ“

#BUSD #Paxos #Binance #Stablecoins #Crypto ๐Ÿ’ฐ
1/ ๐ŸŸข #Paxos, a regulated trust company based in New York, issues and redeems the dollar-backed token #BUSD, licensed to be called "#BinanceUSD," a #stablecoin.
2/ ๐Ÿ“‰ In the past 24 hours, #BNB has dropped -6%, and around $2.4bn of shorts have been put on. But the issue does not appear to be around #stablecoins per se, what the market initially feared, but rather that #Paxos was not stringent enough with its oversight of the #BUSD.
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(1/7) #Bullmarkets are periods of increased #asset values due to regular #price fluctuations. This thread emphasizes on its causes and characteristics. ๐Ÿฎ๐Ÿงต

Learn More ๐Ÿ‘‡
medium.com/zignaly/llts22โ€ฆ
(2/7) Wage growth, capital inflows, minimal unemployment, strong #consumer spending, and increasing corporate #profits are all factors that lead to sustainable #bullruns. ๐Ÿฎ๐Ÿ“ˆ
(3/7) Characteristics of a #BullCycle:
1. Boosted #investor confidence, falling policy rate. ๐Ÿ”๐Ÿ“ˆ
2. More #money being invested in the future by businesses. ๐Ÿ’ต๐Ÿ“ˆ
3. There is a decline in the #unemployment rate. ๐Ÿ‘จโ€๐Ÿ’ผ๐Ÿ“‰
4. The process of #spending money is more straightforward โฌ†๐Ÿ’ฏ
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