I was initially alarmed by the recent news that Binance is going to convert three stable coins, including USDC, into it's own native BUSD....
However because users will still be able to withdraw in USDC (etc.) I'm not sure this is that bigger deal....
Already most trading pairs on Binance are in BUSD anyway, so this just seems like it is on the tin - about increasing liquidity for said trading pairs which I don't think is necessarily a bad thing.
And presumably Binance is going to hold equivalent USDC assets to allow withdrawals to take place.
I guess something to watch out for is whether USDC trading remains possible on BSC, but I can't imagine that's going to be a problem as that's a more decentralised system than Binance, I think...
Or maybe I'm just burying my head in the sand a little here...?
I mean as a general rule I don't trust Binance anyway, not enough to leave significant funds on the exchange, so for me it's not too much of an issue, but defo not a move in the interests of decentralisation.