$USDC
**USDC: A Stablecoin Powerhouse with Growing Challenges**
USDC, issued by Circle, is the second-largest stablecoin, known for its transparency and full USD backing. Its reliability stems from regular audits and regulatory compliance, making it a trusted choice for traders and institutions. However, USDC faces stiff competition from Tether (USDT), which dominates liquidity and market share.
Recent challenges include regulatory scrutiny and the aftermath of the 2023 Silicon Valley Bank collapse, which briefly depegged USDC. Despite this, Circle’s focus on compliance and expansion into new markets strengthens its position. USDC remains vital for DeFi, payments, and cross-border transactions, but maintaining trust amid regulatory shifts will be key.
