USDC & BUSD Might Not Be Any Competition As  USDT is the World’s Largest Stablecoin, Now Reaching $69.7 Billion Market Cap

February 16, 2023

U.S. regulators are building a strict gap between crypto trading and banking. The SEC doubled their workforce to regulate the crypto space.

  • As a result of this crackdown on cryptocurrencies, USDT has become the main topic of discussion because of its location outside of the U.S. USDT is also being scrutinized by the SEC over the transparency of its reserves. 
  • Trading firms have already decided to move out of USDC and BUSD into USDT, because USDT is less vulnerable to U.S. regulatory action. Some investors have moved their USDC elsewhere where they consider it safer.
  • On February 14, 2023, USDT closed at $68.5 billion. At the time of writing, it has reached $ 69.7 billion. 

Image via Tradingview 

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