USDe、WBETH、BNSOL 造成的一系列清算这件事我只觉得，和半年前 FDUSD 的事莞莞类卿当时 FDUSD 造成的风波被简简单单盖过的原因，主要在于 FDUSD 本身的使用场景并不丰富，脱锚的波及面并不广，还有一点深层问题，就是没抓住问题的重点——内部系统的风控问题信息披露的系统性问题是问题，但是和内部金融系统风控的问题面前又不值一提。今天的 FUD 如果只对着币安本身开火，其实毫无意义。看了几天，很多事是是非非都有太多的主观因素，但抛开道德和主观判断来说，币安不承认自己的错误固然可能是皇帝不能下罪己诏的道理，可问题的关键存在几个客观的事实和问题需要他们自己正视：1. 币安内部的风险控制系统是否有问题？有很大问题。稳定币并不真正稳定，这是始终高悬的达摩克利斯之剑，何况 USDe 并不完全真正意义上能够锚定住美元，币安把 USDe 的循环贷风险控制做得太差是问题的关键之一。无论是价格归零、修改 K 线、暴跌当时和其他交易所的巨大差价，和 WBETH、BNSOL 等能够以 1:1 兑换的资产出现巨大脱锚的问题，都证明了风控系统存在巨大问题USDe 的问题先不说，WBETH、BNSOL 和 FDUSD 的 ...

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Binance announce the 49th HODLer Airdrops project Morpho (MORPHO), rewarding eligible BNB holders with MORPHO tokens. Trading begins on October 3, 2025, with pairs including USDT, USDC, BNB, FDUSD, and TRY. The total supply is 1 billion tokens, with 6.5 million allocated for the airdrop. https://t.co/id1zACi5jM ...

USDT USDC BUSD FDUSD PYUSD GUSD TUSD USDP DAI sUSD LUSD FRAX USDD USDe USD1 mUSD NET PYUSD0How many stablecoins are enough stablecoins? ...

Binance announced that the 38th HODLer airdrop will feature Holoworld AI (HOLO), going live on September 11 at 12:00 (UTC) with USDT, USDC, BNB, FDUSD, and TRY trading pairs. Unibase (UB) will launch on Binance Alpha on September 12 at 08:00 (UTC), with the UBUSDT perpetual contract on Binance Futures at 10:30 (UTC), up to 50x leverage.https://t.co/3Cffu30Eynhttps://t.co/lp8HKJU6X6 ...

Binance announced the 36th HODLer Airdrops project — OpenLedger (OPEN). Users who subscribed BNB to Simple Earn or On-Chain Yields between Aug 18–21 will receive the airdrop. Binance will list OPEN on Sept 8 at 13:00 UTC, opening trading against USDT, USDC, BNB, FDUSD, and TRY, with a Seed Tag applied. OpenLedger (OPEN) is an AI blockchain project.https://t.co/TgOW6XnmzM ...

Core Viewpoint - The rapid expansion of stablecoins is transforming them from mere crypto assets into key financial variables with macroeconomic implications, impacting traditional financial systems, particularly in areas like money supply, credit creation, and the U.S. Treasury market [2]. Group 1: Stablecoins as Financial Ecosystem Variables - Stablecoins have evolved from being used solely in the crypto market to broader applications, showcasing advantages in cross-border payments and crypto settlements due to their 24/7 availability and low costs [4]. - Global regulatory frameworks are being established to address the rapid development of stablecoins, with the U.S. implementing the GENIUS Act to set clear licensing and reserve requirements [4]. Group 2: Financial Institutions' Participation in the Stablecoin Ecosystem - Commercial banks are actively issuing on-chain deposits to counteract the risk of deposit erosion from stablecoins while also providing reserve custody services to stablecoin issuers [5]. - Asset management companies are managing the substantial reserves of stablecoins, particularly U.S. Treasury securities, recognizing the market opportunity as stablecoin reserves reach hundreds of billions [5]. - Payment companies are leveraging their networks to create closed ecosystems by issuing their own stablecoins or integrating third-party stablecoins to reduce payment costs and enhance transaction efficiency [5]. - Exchanges are capitalizing on the infrastructure benefits by providing low-cost fiat-stablecoin exchange channels and developing stablecoin derivatives to attract institutional investors [5]. Group 3: Impact of Stablecoins on Money Supply - The key to stablecoins not expanding the total M2 money supply lies in their adherence to a 1:1 reserve ratio, which results in structural changes in existing M2 rather than net expansion [7]. - If stablecoins begin to pay interest and expand into everyday payment scenarios, they could significantly compete with traditional banks, potentially eroding bank deposits and limiting credit creation [7]. - The introduction of a fractional reserve system for stablecoins could lead to actual M2 expansion, as stablecoin issuers would gain the ability to create new money through leverage [8]. Group 4: Stablecoins as a New Cornerstone for U.S. Treasury - Stablecoins are creating substantial incremental demand for U.S. Treasury securities, particularly short-term bills, as their reserves grow to hundreds of billions [9]. - However, the inherent risks associated with stablecoins could make them a "fragile fulcrum" for the Treasury market, particularly during liquidity crises when large-scale redemptions could lead to forced sales of Treasury holdings [9]. Group 5: Lessons from the Breakdown of the Bretton Woods System - The potential decoupling risks faced by stablecoins echo the trust crisis that led to the breakdown of the Bretton Woods system, particularly if regulators allow a shift to a fractional reserve model [10]. - The transition from a fully reserved system to a fractional reserve model for stablecoins could fundamentally alter their nature, transforming them from passive digital assets to active credit creators [10]. Group 6: Regulatory Landscape - The U.S. GENIUS Act establishes a federal regulatory framework for stablecoins, requiring issuers to hold reserves in high-quality liquid assets and undergo regular audits [31]. - Hong Kong has implemented the Stablecoin Ordinance, mandating that stablecoin issuers maintain 100% backing with high-quality assets and obtain licenses from the HKMA [32]. - Singapore's MAS has introduced a regulatory framework for single-currency stablecoins, ensuring that reserves equal at least 100% of the circulating stablecoin value [33]. - The EU's MiCA regulation categorizes different types of crypto assets and imposes reserve and disclosure requirements to protect consumers and maintain financial stability [34].

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Promotions & Offers - Trust Wallet offers 0 gas fees for USDT & USD1 transactions until July 31 [1] - The promotion of 0 gas fees for FDUSD & USDC on BNB Chain using Trust Wallet ends on July 1, 00:00 UTC [1] Supported Assets - The promotion applies to USDT and USD1 [1] - The promotion is ending soon for FDUSD and USDC [1]