Source: Cointelegraph Original: "{title}"
Binance is launching a new "rewarding margin asset" LDUSDt, which the company claims is not a stablecoin.
According to an announcement on April 9, LDUSDt can be obtained by exchanging Tether's USDt deposited into the company's Simple Earn yield product. Binance stated that holders of LDUSDt will continue to earn yield rewards through "Simple Earn," even when using the token for margin trading.
This is Binance's second launch of a rewarding margin asset. The first rewarding margin asset, BFUSD, was introduced by Binance in 2024. At the time of its launch, Binance clarified that "this is not a stablecoin" in response to user concerns and comparisons with the failed TerraUSD (UST) token.
In the latest announcement, Binance reiterated that LDUSDt is not a stablecoin:
Related: Binance to delist 14 tokens after "vote to delist" procedure
According to Binance, LDUSDt can be used as a margin asset in the multi-asset mode of the exchange's futures platform. It will also earn real-time annual yield rewards.
The specific launch date has not been determined, with the announcement stating that it "will be launched soon on the Binance website and app." A Binance spokesperson told Cointelegraph:
As of the time of publication, Binance has not responded to Cointelegraph's inquiries regarding the potential risk impacts of the system.
In related news, a Nigerian court has postponed the hearing of Binance's tax evasion case until the end of April: reports
By trading volume, Binance remains the largest cryptocurrency exchange in the world. According to CoinGecko, the platform processed over $16.5 billion in transactions within 24 hours. Bitget follows closely behind, with trading volume just below $5 billion.
More popular data from CoinMarketCap, which is owned by Binance, shows that the exchange had $24.6 billion in transactions over the past 24 hours. The platform indicates that Bitget's trading volume in the same period was only $3.84 billion.
Despite facing ongoing legal and regulatory challenges in multiple jurisdictions, Binance continues to expand its global influence. According to recent reports, the company's former CEO Changpeng "CZ" Zhao will begin advising the Kyrgyz Republic on blockchain and cryptocurrency-related regulations and technologies after signing a memorandum of understanding with the country's foreign investment agency.
Meanwhile, current CEO Richard Teng remains a focal point. In late March, Teng denied reports of Binance.US negotiating trading deals with entities associated with U.S. President Donald Trump during the 2025 Digital Assets Summit held by Blockworks in New York on March 18.
Magazine: Trump's cryptocurrency investments raise issues of conflict of interest and insider trading.
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