The leading adult site suddenly sends out emails to creators: starting June 1, withdrawals must be converted to USDC, claiming it's more reliable, fully backed, and compliant with MiCA.
Translation: We don't trust USDT's reserve transparency anymore; we're more comfortable with Circle's little transparency.
Well, looks like the traditional 'yellow, gambling, and drugs' customer base is starting to panic, with 'yellow' leading the exodus.
Tether is still dreaming about a $500 billion valuation round, but even adult film sets are starting to turn their backs on you.
USDC trading volume has been consistently smashing USDT, but its market cap is just a fraction of it. USDT's market cap is 2.5 times that of USDC, yet Tether's valuation is 23 times that of Circle...
Is this wave about scale or transparency? The market has already started voting with its feet.
P-station is starting to pick stablecoins, Tether bro, is it time for you to drop a reserve audit? Otherwise, the next to flee might be 'gambling' and 'drugs'!