Tether USDT market cap breaks ATH, Binance CEO points at regulatory caps
At a time when USDT is touching new market cap highs, the other stablecoins are struggling to keep their market dominance. Tether-issued USDT (USDT) stablecoin broke past a new all-time-high market cap of over $83 billion as it continues its stablecoin market dominance. The new ATH market cap for the USDT stablecoin comes in a year when other stablecoin issuers are struggling to remain afloat due to regulatory ire. The same was pointed out by cryptocurrency exchange Binance’s CEO Changpang Zhao aka CZ. Tether USDT market cap chart. Source: Coinmarketcap CZ in a quote tweet drew attention towards BUSD, a Binance stablecoin issued by Paxos. The Binance CEO said that “BUSD was a fully regulated stablecoin that was ‘capped’ by NYDFS at a $23 billion and currently sits at a $5 billion market cap and since then USDT has seen tremendous growth.” BUSD, a fully regulated stablecoin, was "capped" (no new minting) by NYDFS at $23b. Now at $5b market cap. Since then, USDT has seen t...