Binance has historically pursued a strategy of providing in-house product solutions, and very rarely open their platform to external teams without rigorous examination and a demonstration of very clear product market fit.
Both their investment into Ethena and now integrations of USDe into the Binance platform required many months of detailed diligence.
I've personally learned a lot from them this past year and am convinced that you can only build a lasting business at the scale they have by always doing right by your users and never letting that standard drop.
That is the only way to earn the trust of >250m users.
The holy grail of dollar asset distribution has always been embedded within centralized exchanges alongside their user bases.
And as of today USDe will now be integrated fully across the entire product suite of the largest exchange in the world.
We couldn't be more excited to be expanding our relationship with Binance to offer their users a unique product across their entire platform including:
i) USDe futures margin collateral across the entire derivatives platform
ii) USDe spot trading pairs
iii) Direct integration into the Binance Earn program
With more coming in the next few weeks.
Binance currently holds over ~$130b of assets and ~$40b of stablecoins, and we expect USDe to grow into one of the largest on their platform.
USDe penetration for USD assets on other CEXs sits at roughly ~12% which would correspond to >$4.0b of USDe on Binance.
Only the beginning for Ethena and Binance.
"Utility coins have failed"...
A lot of people are about to be blown away off sides.
Case n point : This in BNB. During this period new L1s were the hot narrative.
Before the bull BNB (and similar coins) went up 50-100x...then crashed 80%. Now get this :
From its PEAK in the first run up it did 15x+. From its crash low it did a 70x.
This is why I've held many utility coins I have faith in down 60-80%.
The behavior below is not some exception. It's TYPICAL alt coin behavior.
It's wildly foolish to
A) Sell at these points due to the 70x example below
B) Not expect coins to follow typical cycle behavior
There is only 1 instance where this doesn't happen and that's the instance where we all completely give up on using block chain for anything real world and make it 100% a casino where all coins are meaningless.
I don't think that is even remotely possible.
Being in the short term pump chasing camp and not playing the long term inevitable narrative here is gonna catch so offsides with bags full of utter nonsense.
Beat the herd. The herd is before all things, short term and lacking vision.