The US Banking System and the Banking Crisis

No one was doing the due diligence to check the duration risk of the banks they banked with. The banking crisis coincides with something that is a concerted effort from meaningfully powerful US institutions or at least individuals within them who have power to push crypto out of the US. While Tether may be the on-paper beneficiary of Circle's challenges operating within the US, I think that Bitcoin has had a renaissance in its value relative to stablecoins in general.