Crypto
USDC’s Depeg Laid Bare the Risks Traditional Finance Poses to Stablecoins
![](https://blacknewsdaily.com/wp-content/uploads/2023/04/SKKHR6GTMJADXDWUWFMQVQXNGE-780x470.jpg)
Other, smaller-circulation stablecoins lost their pegs, too, including BUSD, issued by Paxos, and crypto-backed stablecoin DAI, issued by MakerDAO. Only USDT seemed to benefit from the turmoil, briefly exceeding $1, most likely because of investors shifting out of the depegged stablecoins.