If I understand the Binance situation correctly they do not claim to be holding USDC for you, if you give them USDC then they convert it to their BUSD token (al

If I understand the Binance situation correctly they do not claim to be holding USDC for you, if you give them USDC then they convert it to their BUSD token (also a stable coin) and that's what's listed on your account. So when you withdraw your BUSD to USDC, they may have to go buy some USDC to actual service your withdrawal. I don't use them, I'm going off of this page: https://www.binance.com/en/support/faq/what-is-busd-auto-conversion-and-how-to-deposit-and-withdraw-usd-stablecoins-on-binance-7a2571c63d97459ab4e44a8dd01cf7e8 https://www.binance.com/en/support/faq/what-is-busd-auto-con...