Binance accumulates 3.8B USDC in three weeks
At the time of writing, Binance's current USDC balance sits at 5.1 billion.
Follow stablecoin news, issuer updates, market share changes, regulation, reserve transparency, and payment adoption trends.
In the meantime, Ethereum dominance over the aggregate market cap of the top four stablecoins continues to increase.
The news comes after the distressed crypto bank's ties with the USDC stablecoin are coming under increased scrutiny.
"We are sensitive to the concerns around Silvergate and are in the process of unwinding certain services with them and notifying customers."
The Japanese banks are expected to issue legally backed stablecoins that can be used in Ethereum wallets like MetaMask.
BUSD's balance on exchanges has dropped to under 10 billion within three months, according to Glassnode data.
Although stablecoins pegged to the US dollar currently dominate the market, recent developments have shown the importance of diversifying.