Stablecoins not the target in BUSD crackdown: Matrixport head of research

Crypto financial services Matrixport’s head of research believes the recent scrutiny of Paxos and its Binance USD (

Thielen has however urged the industry not to be overly concerned about the future of BUSD.

“Binance has shot itself a little bit in the foot here, but they are working on it and it should be resolved. So should we be really worried?” Thielen said.

“I don’t think so. Is the peg breaking? NO. We are no longer in a bear market where you worry about downside, in bull markets, you focus on the upside,” he added.