It is recommended that friends who hold large amounts of USDT should quickly exchange them for USDC while there is no run on USDT and the USDT/USDC exchange rate does not fluctuate much. Why do we say that? Let's take a look at Binance last night. It has converted 100% of the digital assets in a SAFU emergency insurance fund established in 2018 into USDC. You should know that the role of this insurance fund is to protect user funds when Binance has security vulnerabilities or unforeseen events. Now that Binance is doing this, it is conceivable that it is definitely paving the way for compliance. However, there are two other points that need to be paid attention to. One is that the Americans have recently mentioned the regulation of stablecoins. The bill clearly states that algorithmic stablecoins are not supported, which shows the regulatory stance and subsequent regulatory framework. Therefore, the algorithmic stablecoin track is unlikely to be used for compliance purposes, and this hype should be treated with caution. Another point is that the US Treasury Secretary publicly stated that he would take action against Russia's use of USDT to bypass economic sanctions. No matter how USDT takes measures to compromise with the Americans, what we retail investors can do is to take precautions and follow Binance's pace to hedge risks. I will stop here today. I will take more time and energy to write about the market, how to explore early projects, how to trade, etc.
