In just 10 days, the reputation of OUSD and USDC has completely flipped: On one side, OUSD issuer Open Standard was exposed for false endorsements; On the other side, USDC issuer Circle took compliance a step further, announcing direct federal regulation in the U.S. A few days ago, people were mocking Circle for losing its moat, and now they're questioning if OUSD is doomed before it even starts. Unsurprisingly, it's probably the same group of people.