BUSD market cap drops another $200 million in the last 24 hours. Someone or something keeps drawing from this stablecoin that is supposedly backed 1:1 by fiat and treasuries. Is BUSD being redeemed for USD to prop up BNB?
The market cap of BUSD has been on a decline since Nov 13, 2022. It is trending to $0. How much longer can this stay pegged to the USD?