After closing the USDC trading pair last September, Binance faced the dilemma of stopping the issuance of BUSD this year; on the 11th, in response to the USDC situation, it stopped automatically converting incoming USDC into BUSD, and will open the stablecoin TUSD trading pair on the same day.

USDC Panic! Business is coming: open the USDT/USDC trading pair

At present, the countdown of the USDT/USDC trading pair has been quietly opened on Binance. Before the deadline, it was shown that the trading pair will be opened in five hours.

It is expected to attract a large number of USDC buying and selling users, providing a trading venue for arbitrageurs and risk-averse users.

USDC has $3.3 billion still stuck in Silicon Valley Bank, which was taken over by the FDIC, waiting to be reopened next Monday. There is currently a serious decoupling of USDC, which is about $0.93; this has also caused panic and arbitrage interest among trading users.

Circle confirms $3.3 billion is stuck in Silicon Valley bank, awaiting FDIC assistance

This article: Silicon Valley banks panic, business is coming! Binance will open USDT/USDC trading pair in five hours appeared first on Chain News ABMedia.