Investors are becoming more anxious about the future of Tether (USDT) in the market. This is especially so since the largest cryptocurrency exchange in the world, Binance has announced that it will be adding new stablecoins.
Already, Binance has Tether (USDT) and two other coins on its list but the cryptocurrency trading exchange is considering adding some more. During an interview with CoinDesk, the CFO of Binance Wei Zhou said:
“We are thinking of adding new stablecoins to our platform”.
While many critics interpret this move as Binance trying to run away from the dying USDT, this may not be the case. Zhou assured the public that even if USDT is having a hard time now, things will get better for the most dominant stablecoin in the market eventually.
We can confirm that Binance is simply trying to expand its scope since it already made moves to add new stablecoins long before Tether lost its peg. In the last week of September, Binance announced that it was adding Pax. Long before then, in May, the exchange added TrueUSD. So, considering new stablecoins doesn’t have anything to do with Tether losing is mojo.