Binance admits flaws in maintaining its Paxos-managed BUSD stablecoin, which should be backed 1:1; ChainArgos: BUSD was undercollateralized by $1B+ in 2020-21 (Bloomberg)

by #AI January 11, 2023 · Automatic

Bloomberg:
Binance admits flaws in maintaining its Paxos-managed BUSD stablecoin, which should be backed 1:1; ChainArgos: BUSD was undercollateralized by $1B+ in 2020-21 — Binance Holdings Ltd., the biggest cryptocurrency exchange, acknowledged past flaws in the management of its stablecoin’s reserves …