Finance
What to know:
In the ever-shifting realm of digital currency, where even rocks seem to trade themselves, Binance has chosen to waltz with USD1, the stablecoin of a project so Trump-linked it could host a White House dinner. One might ask, “Is this finance or a reality TV plot?” The answer, dear reader, is a yawn-inducing blend of both.
Starting Thursday, Binance will unveil new trading pairs-BNB/USD1, ETH/USD1, and SOL/USD1-as if offering you a trinity of dollar-backed salvation. And because nothing says “trust” like zero fees, they’ll let you swap USD1 with USDC and USDT for free. A noble gesture, or perhaps a tax evasion masterstroke? Only time-and Trump’s lawyers-will tell.
Meanwhile, Binance will convert its BUSD reserves into USD1 within seven days, a move as smooth as a Putin press conference. Post-conversion, USD1 will collateralize margin trading and liquidity operations. One wonders if the U.S. Treasury bills backing USD1 are as solid as a Russian nobleman’s resolve in Turgenev’s tales.
USD1, with its $2.7B market cap (6th among stablecoins), recently basked in the glow of a $2B investment from Abu Dhabi’s MGX. A transaction so large, one might say it’s the crypto equivalent of a Cossack riding a cryptocurrency into the sunset. Yet, let us not forget: this drama follows Trump pardoning CZ Zhao, who served four months in prison for Bank Secrecy Act violations. A pardon so convenient, it could make a Turgenev protagonist weep-or laugh, if irony were a character here.
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2025-12-11 22:39