The prediction market becomes the first platform to use USD1 stablecoin as its primary settlement layer, while Binance.US names new CEO amid regulatory rehabilitation.
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Myriad, a decentralized prediction market, announced it will exclusively use USD1 stablecoin on BNB Chain as its settlement asset, marking the first major platform adoption of the relatively new stablecoin. The integration aims to create a "faster, simpler" user experience for traders on the platform. USD1 has gained traction as an alternative to traditional stablecoins, though specific price impacts from the announcement remain limited.
The move highlights growing competition in the stablecoin sector, where USD1 seeks to differentiate itself from dominant players like USDC and USDT. BNB Chain continues to attract DeFi protocols with lower transaction costs and faster settlement times compared to Ethereum mainnet. Trading volumes and total value locked data for Myriad were not immediately available following the announcement.
Meanwhile, Binance.US hired a new CEO as the exchange rebuilds its U.S. operations following regulatory settlements. The appointment signals improved relations between Binance and American regulators after founder Changpeng Zhao's legal resolution. This development could influence broader crypto exchange compliance standards and market access in the U.S.
The stablecoin market remains dominated by USDT ($118 billion market cap) and USDC ($38 billion), with newer entrants like USD1 competing for adoption. BNB token trades around $690, maintaining its position as the fourth-largest cryptocurrency by market capitalization at approximately $103 billion.
Separately, Across Protocol proposed transitioning from a DAO structure to a private company, offering ACX token holders either equity stakes or cash exits at a 25% premium, reflecting ongoing debates about optimal governance structures in DeFi.