CoinGecko: after Tether lost its dollar peg, leading to $8.5B+ in redemptions, Circle’s USDC stablecoin circulation rose by $3.4B and Binance USD is up $1.2B (Emily Nicolle/Bloomberg)

Emily Nicole / Bloomberg:

CoinGecko: after Tether lost its dollar peg, leading to $8.5B+ in redemptions, Circle’s USDC stablecoin circulation rose by $3.4B and Binance USD is up $1.2B— Circle’s USD Coin is reaping the benefits as circulation of Tether, the world’s largest stablecoin and its closest rival, continues to decline in a wave of redemptions.