7 月 17 日，Binance Alpha 本期 BAS（BAS）Pre-TGE 活动已开放投入。
积分门槛 213 分，参与活动将消耗 10 积分，认购时间为 2025 年 7 月 17 号下午 4 点到 6 点 (UTC+8)。

<div><p>7 月 17 日，Binance Alpha 本期 BAS（BAS）Pre-TGE 活动已开放投入。</p><p>积分门槛 213 分，参与活动将消耗 10 积分，认购时间为 2025 年 7 月 17 号下午 4 点到 6 点 (UTC+8)。</p></div>

Binance Alpha本期BAS（BAS）Pre-TGE已开放投入

On July 17, the Binance Alpha <BAS> Pre-TGE activity is now open for investment.
The point threshold is 213 points, participation will consume 10 points, and the subscription time is from 4 PM to 6 PM (UTC+8) on July 17, 2025.

<div><p>On July 17, the Binance Alpha BAS (BAS) Pre-TGE activity is now open for investment.</p><p>The point threshold is 213 points, participation will consume 10 points, and the subscription time is from 4 PM to 6 PM (UTC+8) on July 17, 2025.</p></div>

Binance Alpha BAS (BAS) Pre-TGE is now open for investment

In the crypto world, what truly determines victory is never code, but the interplay between liquidity, power, and regulation. The rise and fall of BUSD is not merely a tragic tale of a stablecoin, but a financial war waged by exchanges attempting to "unify the world."

When BUSD was thrust onto the historical stage, it carried not only a compliance narrative, but also Binance's ambition to reshape the stablecoin order through coercive measures—by manipulating exchange rates and merging trading pairs, directly swallowing competitors' liquidity into its own ledger.

The "automatic conversion" of 2022 was a textbook example of a blitzkrieg; and 2023...

The Rise and Fall of Binance's Dominance: From BUSD's "Unification" to $U's "Conquering the World"—The Stablecoin Wars

Source: Galaxy Research; Translation: Jinse Finance xz
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