Binance's OMNI Launchpool recently reported FDUSD stablecoin deposits exceeding its total circulation, sparking debate about the stablecoin's backing and the platform's operational fairness. Initially, $6.37 billion in FDUSD was shown, while the stablecoin's market cap is just below $4 billion.
Binance later clarified this as a display error, now showing $3.18 billion FDUSD deposited. Following the news, FDUSD briefly depegged to 98 cents but has since recovered.
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