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Why does Changpeng Zhao have stablecoins on the brain?

Changpeng Zhao took to Twitter Spaces for an AMA where he spent much of his time discussing stablecoins including Tether, TUSD, and FDUSD.

Here’s why decentralized finance is actually very centralized

Most DeFi protocols are controlled by a small number of smart contracts whose keys are held by one person or a tiny group of insiders.

Tether apparently bought nearly $50M worth of commercial paper from a subsidiary of Masraf Al Rayan, a bank fined $4M by the FCA.

Documents obtained by CoinDesk and Bloomberg shed additional light on Tether reserves, showing the issuers of its commercial paper.

With BUSD’s market cap at $4.5 billion, it looks to be just a matter of time before the former top-three stablecoin vanishes completely.