That said, of the eight stablecoins S&P reviewed, several received lackluster scores. Most notably Tether’s USDT, the largest stablecoin by market cap and most used crypto asset in terms of trading volume, was given the fourth-lowest score in range from 1 to 5. Meanwhile MakerDAO’s dai (DAI), popular across decentralized finance (DeFi), and the Justin Sun-backed TrueUSD, the fourth and fifth largest stablecoins, respectively, were also given low scores.
Source: https://www.coindesk.com/consensus-magazine/2023/12/19/sps-stablecoin-report-is-a-vote-of-confidence-for-crypto/?utm_medium=referral&utm_source=rss&utm_campaign=headlines