Zhao Changpeng: BUSD is issued and redeemed by Paxos, and the market value of BUSD will only decrease over time
ChainCatcher news, Binance founder Zhao Changpeng tweeted that BUSD is issued and redeemed by Paxos. The funds are SAFU (Secure Asset Fund for Users). From Paxos, it was learned that the New York Department of Financial Services (NYDFS) instructed them to stop minting new BUSD. Paxos is regulated by NYDFS. BUSD is a stablecoin fully owned and managed by Paxos. Therefore, the market value of BUSD will only decrease over time. (Source link)
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