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March 13, 2024
CZ hints at Binance launching its own stablecoin
In a reply to a Tweet suggesting that Binance should create its own stablecoin, exchange Boss, Changpeng “CZ” Zhao, uttered his famous five-word answer: “careful what you wish for,” a phrase synonymous with past developments… So, is Binance going to develop a stabelcoin?
The original suggestion came from a popular User on crypto Twitter known as CryptosBatman, who detailed the benefits of a stablecoin created upon the newly minted Binance Chain, suggesting that it would increase utility and network usage for BNB:
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And that’s when CZ came in with his now famous trademark phrase:
One user replied that Binance was already “cooking something like this up”
Pretty sure they are currently cooking something like that
See Lukas Bydzovsky's other Tweets
Others speculated on what the stablecoin may involve:
I guess it will not be a stable coin per se however $BNB will eventually be stabilised somewhere around 100$ I feel...
There is still more room for growth.
But Is it wrong to jump the gun and assume this means a Binance stablecoin is on the horizon? Maybe not.
The very same occurrence of this phrase coincided with multiple Binance developments in the past. The most recent of which was the format change enforced on the Binance Launchpad token sales:
Careful what you wish for https://t.co/eeQvfDrUXI— CZ Binance (@cz_binance) <a
href="https://twitter.com/cz_binance/status/1108826629642412032?ref_src=twsrc%5Etfw">March 21, 2019
Before that there was launch of Binance Jersey, which CZ hinted to after one users requested a BTC/GBP pairing back in January:
Big thanks to @cz_binance and @binance for getting my second account running. Much appreciated. Only if you could add fiat GBP to BTC pair. That would make my day and a lot of other people I know would be really happy.
careful what you wish for. :)
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CZ even hinted to a base pair for XRP back in December 2018, which came to fruition shortly after, much to the pleasure of the XRP army:
So as it stands it looks fairly likely that we’ll hear more news relating to a Binance stablecoin in the future, for now, speculation on what that might involve, continues; however, with the recent Tether/Bitfinex fiasco, Binance might just be able to convince a few of USDT’s disillusioned customers to jump ship…
