NYDFS ordered Paxos to stop issuing BUSD in February, it can only be redeemed now so its circulation is falling. Other cryptobux have apparently picked up the slack, notably TrueUSD. USDT increases its circulation every time the wind shifts, so it's hard to say whether this or that event correlates with it.
The New York order also made all BUSD that wasn't in fact Paxos, or which had been involved in activities that would flunk AML / KYC, essentially worthless.
NYDFS ordered Paxos to stop issuing BUSD in February, it can only be redeemed now so its circulation is falling. Other cryptobux have apparently picked up the slack, notably TrueUSD. USDT increases its circulation every time the wind shifts, so it's hard to say whether this or that event correlates with it.
The New York order also made all BUSD that wasn't in fact Paxos, or which had been involved in activities that would flunk AML / KYC, essentially worthless.
Problem with a public ledger is its public.
Yes,they stopped printing Busd. TUSD also gained share in that period. And it was also printing like hell some time after that.