Circle USDC stablecoin redemptions have reached $10 billion since the collapse of key banking partner Silicon Valley Bank. Market leader USDT now claims a 60% stablecoin market share, its highest since May 2021. sndr_krisztian reports
), the third-largest stablecoin. BUSD’s supply has tumbled below $8 billion from $16 billion in early February.market reportSince March 10, USDT’s market capitalization has grown some $8 billion to $79.5 billion and it holds a 60% market share among stablecoins, according to“Ironically, the players who have had the strongest position with U.S. regulation and U.S.
last week. “Market participants are shifting into platforms with no oversight, totally opaque bank and risk exposures, and histories of lax financial risk and integrity controls.”in a CNBC interview that USDT has around $1.6 billion of excess reserves and the stablecoin issuer was on track to book a $700 million profit in the first quarter of the year.
Another stablecoin, trueUSD , has gained prominence thanks to Binance touting TUSD as one of the alternatives to BUSD and
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