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The blockchain network security incident has once again stirred up the entire coin circle.On October 7th, Beijing time, BNBChain, one of the most active public chains in the world (public blockchain, which refers to a consensus blockchain where anyone can read, send transactions, and obtain effective confirmation) incubated by the cryptocurrency exchange, was attacked by hackers

Recently, BUSD suffered a regulatory assault from the US government's SEC. The SEC sued Paxos using BUSD as an entry point for unregistered securities. Subsequently, NYDFS, the New York State Department of Financial Services, instructed Paxos to stop casting new BUSDs, and CZ also stated that "product adjustments will be made accordingly. For example, BUSD will no longer be used as the primary currency equivalent for trading.It can be foreseen that BUSD will gradually fade out of the historical stage of stable currency, and given that BUSD is the ace stable currency of BNBChain, what changes will happen to the stable currency ecosystem of BNBChain (formerly known as Anzhineng Chain) after this flag falls?The current status of stable coin ecology in BNBChainAccording to statistics from Defellama, the total market value of the stable coin ecosystem on BNBChain has exceeded $9 billion, with BUSD accounting for 53% of the market, with a market value of approximately $4.8 billion.Subsequently, USDT has a market value of approximately 3.2 billion US dollars (35%), USDC has a market value of approximately 780 million US dollars (8.67%), and some stable currencies with a market value below 100 million US dollars, such as USDDDDaiHAY.According to Paxos, BUSD can still be redeemed until at least February 2024. Although there is a buffer period of at least one year, facing the outflow of billions of dollars of stable currency, the question before us is, how will this stir up the stable currency ecosystem of BNBChain?Is it to stimulate the development of decentralized stable currency?Or strengthen the dominant position of USDT/USDC in BNBChain?For the former, CZ has responded to the suggestion of building a decentralized stable currency similar to DAI in the future, saying that at this juncture, we would prefer others to do so to make it more decentralized. We cannot do everything.Looking back at the two contestants HAY& VAI, currently with a stable currency market value of only tens of millions, seems to have an upper limit on its own track even if we optimistically imagine that such projects can carry the banner. It has developed well like DAI on Ethereum, and its stable currency market value is only about $5 billion. When converted to BNBChain, it still cannot match the scale of centralized stable currencies like BUSD.So currently, it seems that it is most reasonable for USDT/USDC to inherit the market share of the stable currency that BUSD has exited. But what we need to know here is that in fact, USDTUSDC officially does not issue native stable coins on BNBChain. Strictly speaking, BNBChain does not have native centralized US dollar stable coins, including BUSD, which is essentially a Binance PegToken. The original assets (i.e. BUSD on Ethereum) are held by the Coin Security official, and the issued BEP20Token is anchored 1:1 on BNBChain.Binance-PegTokenBTokenDue to the fact that most users only need to focus on the application experience level, they do not have a deep understanding of the specific underlying attributes of various assets. In fact, in the early stages of the launch of BNBChain (originally named BSC), in order to attract external high-quality assets such as BTCETH and stable coins, Coin An launched the Token Canal program, which is essentially similar to Wrapped Assets. Coin An officially serves as the processing center for the custody of native assets and the issuance and redemption of packaged assets.Binance-PegTokenBTokenAccording to the official mortgage reserve certificate of Coin An for BTokens, we understand that there are currently 97 BTokens, including approximately 5.4 billion ERC20BUSD reserves, corresponding to approximately 4.8 billion BEP20BUSD and other corresponding BUSDs for each chain.Previously, NYDFS emphasized that Paxos was authorized to issue BUSD on the Ethereum blockchain, but the department has not yet authorized Binance PegBUSD on any blockchain.It seems that the real motivation of NYDFS is actually BinancePeggedBUSSD, rather than concerns about whether there is 100% reserve support. After all, this piece of coin security has publicly and transparently proven reserves, and BinancePeggedBUSSD, a packaged asset, strictly speaking, is created by the on chain behavior of coin security. Therefore, should NYDFS/SEC point its finger at coin security, and USDTUSDC also has a corresponding BinancePegged, Will TetherCircle also have the same problem passively? Or is it just an excuse, essentially just a targeting?Of course, even if it is targeted, it may still be related to the original measure of coin security supporting BUSD, which automatically converts USDC, USDP, and TUSD to BUSD by default. After all, with the support of coin security, more scenarios of BUSD may lean towards BNBChain, which may lead to a misunderstanding that BinancePeggedBUSD, a packaged asset, is the only native asset.How will the exit of BUSD stir up the stable coin ecosystem of BNBChain?Now we return to the initial question of "How will the exit of BUSD stir up the stable coin ecosystem of BNBChain", and the answer seems relatively clear. For the decentralized stable coin track, it will have a certain boost, but the potential wave generated is limited; It is likely that BinancePeggedUSDTUSDC has given way to the demand for these stable currencies, and the gradual withdrawal of BUSD may also be negative for the BNBChain ecosystem.As for whether BinancePeggedUSDTUSDC will be subject to the same regulatory restrictions on "issuance" authorization, such concerns can be temporarily put aside. Although Binan does not have a compliant custody license like BitGo, the custodian of WBTC, its asset custody reserves are open and transparent, and regulation should not be so exhaustive.

According to CCN, the cryptocurrency transaction Binance has reached a partnership with real estate auctioneer James Pratt Auctions (JPA) and will be able to use BTC and BNB (Taiwan Dollar Anping) to pay for home auctions next month.On April 8, 2019, consumers can use BTC or BNB to participate in the auction for a luxury seaside villa called 'The Jetsons' in Casuarina, New South Wales, Australia

On the evening of May 13th, it was reported that Coin An was facing investigation by the US Department of Justice and the Internal Revenue Service. Binance has previously stated to the public that Binance

Political turmoil and the increasing popularity of cryptocurrencies have shaken the dominant position of the US dollar in the global financial system. The recent debt ceiling crisis has exposed the weakness of the US economy and started searching for alternatives to the US dollar

At present, when entering the Twitter homepage website, the iconic Blue Bird logo in the middle has been replaced with the Dog Coin logo. Musk also tweeted with a meme that the Twitter Blue Bird logo is already an old photo

Recently launched: PolygonzkEVM; Coming soon: Shanghai upgraded version.DOGE is priced at $0

On October 8th, IT Home reported that in the early morning of October 7th Beijing time, the smart contract platform BNBChain suffered two consecutive (2:26, 4:43) hacker attacks, washing out 2 million BNB coins in just 2 hours. This currency alone reached $566 million, and with other virtual assets, it could reach $718 million

On July 12th, Coin An announced that "the Coin An team will give up their BNB share and join the BNB destruction plan." Many investors understood this as a significant reduction in the circulation of Coin An Ping Taiwan Dollar BNB, and BNB prices rose in response

Binance Holdings Ltd., the world's largest cryptocurrency exchange, and its CEO Zhao Changpeng have been sued by the US Commodity Futures Trading Commission for allegedly violating trading and derivative rules

Nowadays, more and more investors are worried that Coin An may follow the footsteps of FTX and become the next bankrupt currency giant.Data shows that, up to now, the original token BNB of Coin Security in the cryptocurrency exchange has fallen by nearly 15% in the past day and nearly 21% in the past week, the lowest level since July

Coinance, the world's largest cryptocurrency exchange, has malfunctioned and its spot order book data has not been updated for a long time. Coin An stated on its social media platform that there is an issue affecting Binance's spot trading