Binance’s Billions are Backed, but You’re Probably Asking the Wrong Question

Binance’s Billions are Backed, but You’re Probably Asking the Wrong Question
The crypto industry is obsessed with figuring out if digital assets are actually backed by anything, but they should be careful what they wish for, they might actually find out.
Patrick Tan
·Follow
Published inChainArgos
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10 min read·
Dec 21, 2022
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The numbers may be made up, but the losses are real.
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Written by Patrick Tan
3.7K Followers
·Editor for ChainArgos
General Counsel for ChainArgos, a blockchain analytics company made famous for breaking the story that BUSD was unbacked periodically, and CEO for Novum Alpha.
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