Summary: The number of wallets sending and receiving BUSD transfers slumped to a new two-year low on May 2, data from Glassnode showed. Declining trading activity comes after U.S. regulators cracked down on stablecoin issuer and crypto trust company Paxos. The Binance-branded token slumped further as protocols, investors, and platforms lost faith in the stablecoin. Meanwhile, Tether’s USDT dominance over the stablecoin market strengthens while rival issuers navigate regulatory scrutiny and banking debacles. Binance USD (BUSD) transactions dipped to a
