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Comment by dgivney

It means Binance is running low on USD reserves and is buying more by preventing large USD outflows while continuing to allow USD inflows.

It's worth noting that Binance operates BUSD, a stable coin pegged to USD which according to their website saw a 25% reduction in net asset reserves between Nov 2022 to Dec 2022 (https://www.binance.com/en/busd) - if that trend has continued that may be why they need a short-term supply of USD.

parent dgivney 3 years ago

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