CHART: USDC is growing faster than USDT under Trump
Donald Trump’s administration has made its support for stablecoins explicit, and the two largest, USDC issued by Circle and USDT issued by Tether, have seen their market capitalizations increase. In absolute terms, USDT has seen a larger increase, growing from approximately $138 billion to around $183 billion. This compares favorably to USDC, which has grown from approximately $48 billion to $76 billion. However, if we instead compare their relative increase, USDC takes a large lead . Read more: Circle vs. Tether: What’s in the reserves? Indeed, when we make that comparison, we see that USDC has grown its market capitalization by approximately 59% during this second Trump administration. This is much more than USDT’s 32.5%. Trump’s administration signed a new stablecoin regulation bill — the GENIUS Act — into law during this term. It’s meant to limit the ability for offshore stablecoin issuers like Tether, which is hea...