Binance USD market cap falls beneath $10B amid rising regulatory concerns

Binance USD market cap falls beneath $10B amid rising regulatory concerns

Binance USD’s (BUSD) market cap has fallen beneath $10 billion for the first time in nearly two years amid a United States regulatory crackdown on its token issuer and a deliberate delisting from a important crypto substitute.

BUSD’s market cap has been on a steep downward trajectory since its all-time excessive market cap of $23.49 billion, which it hit on Nov. 15, gentle about a days after the shock fall down of FTX.

<em>Market cap of Binance USD (BUSD) over the final 300 and sixty five days. Source:</em><em> </em><em>CoinGecko.</em>
<em>The largest stablecoins by market cap. Source: CoinMarketCap<span></span></em>

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