Binance clarified its forthcoming BFUSD asset is not a stablecoin after crypto users showed concerns over its promise of high yields.
Crypto exchange Binance has attempted to cool some concerns over its new high-yield “BFUSD” token — clarifying that it is not a stablecoin nor has it launched.
In a Nov. 17 post to X, crypto news aggregator Zoomerfied told users that Binance would be launching a stablecoin with a 19.55% annual yield, sending many on X to make comparisons to Terraform Lab’s failed algorithmic stablecoin, now known as TerraClassicUSD (USTC).
Source: Zoomer
