According to Bloomberg, Binance founder Zhao Changpeng spoke on Twitter Space and said that after the US regulatory crackdown, the cryptocurrency industry may move away from dollar-pegged stablecoins and even re-examine algorithmic stablecoins. The current pressure on stablecoins is considerable, which will shrink the USD stablecoin market, so the industry is exploring other options. “We will see more stablecoins based on the euro, yen, Singapore dollar.”

Zhao Changpeng said that part of the regulatory crackdown on stablecoins by regulators was triggered by the collapse of the Terra Luna algorithmic stablecoin in May last year. A side effect could be a comeback for algorithmic stablecoins.”

Changpeng Zhao pointed out that BUSD is not his or his team's idea, but originated from Paxos, Binance is not a stable currency issuer, "BUSD has never been a good business for us."