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The crypto coins. Binance is a Crypto to Crypto exchange. You can't deposit or withdraw USD from Binance.

• schemescape 4y ago
  Any idea why a New York bank is relevant then (per CZ)?
  • stevehawk 4y ago
    is it relevant? or is it a red herring.
  • jqpabc123 4y ago
    Probably because the USDC is being held in a real bank account controlled by some unknown 3rd party who lives in some country without an extradition treaty. Gives you a warm, fuzzy, secure feeling that everything is perfectly safe doesn't it?
    • twelve40 4y ago
      how can USDC be held in a real bank account? doesnt make sense
      • flamemyst 4y ago
        The backing of USDC held in real bank account. They need to move real USD to Circle bank to mint USDC.
      • jqpabc123 4y ago
        No, it doesn't --- unless they redeem them for USD. I doubt there is anything preventing Binance from doing whatever they want with the coins you place in their possession.
• tromp 4y ago
  These Binance web-pages suggests otherwise: [1] https://www.binance.com/en/support/faq/how-to-buy-cryptos-with-usd-360036928272 https://www.binance.com/en/support/faq/how-to-buy-cryptos-wi... [2] https://www.binance.com/en/fiat/deposit https://www.binance.com/en/fiat/deposit
  • 4pkjai 4y ago
    My mistake!