Previously, @ Tether has not undergone a complete audit, and USDT has been unanchored by more than 5% three times in 2017/18/22. At that time, USDC was striving to catch up under the guise of compliance, and the gap in issuance volume between USDC and USDT in 2022 was already very small. According to this trend, it will soon catch up. But in 2023, the Silicon Valley banking crisis led to USDC being unanchored at $0.88, widening the gap for Circle. Because everyone has found that compliance only means obedience, not low risk 😁