Binance Creates Stable Coin Backed By Tether - :Satire:

By BitcoinGordon | Crypto Satire -Fake News Ripped from the Headlines | 31 Dec 2019

Gordon Freeman here to bring you the most up-to-date things that aren't true, but should be.

Binance announced (some random) Friday, once, that they will be launching a new stable coin expected to lead highest volume for the coming year.

Having already released stable coins pegged to other currencies, CZ of Binance decided the smart thing to do would be to launch a coin based on the reliability and volume of Tether, or USDT.

Tether has been at the center of numerous scandals, including accusations of pumping the price of Bitcoin, dealing with less-than-respected agencies responsible for backing their assets in real dollars, and generally ticking everyone off for doing so well.

Regardless of what people think of Tether, Binance is holding some pretty massive bags of Tether, so CZ had a moment of genius:

I said to myself, why not make a spin on what Bitfinex did? Instead of making another stable coin pegged to real dollars or Euros or whatever, it makes a lot more sense for me to put our massive supply of Tether to use. So, We decided to launch USDTBNBUSDT Coin, which is Tether, on top of our Binance Chain, Tethered to Tether, backed by Tether.

Binance will not be listing USDT/USDTBNBUSDT trading pairs, because, well, that would just be stupid.

Gordon Freeman Out.

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