Director of Digital Asset Strategy at VanEck: About $1 billion has been transferred from USDC to USDT in the past 1 month

Gabor Gurbacs, director of digital asset strategy at New York-based investment management firm VanEck, tweeted that about $1 billion has been transferred from USDC to USDT in the past month.

Market value data shows that the market value of USDC has evaporated by more than $1 billion in August, while the market value of USDT has grown significantly.

GaborGurbacs said, “I wouldn’t be surprised if institutions and large players feel it is safer to store their funds outside the U.S. following recent U.S. regulatory measures for crypto companies and tokens.”

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