Binance USD (BUSD) fell out of the top five stablecoins due to a 96% drop in its circulating supply, triggered by regulatory troubles and a lack of user confidence.
Legal issues, including a $150 million fine on Binance’s CEO, Changpeng Zhao (CZ), and regulatory challenges, have affected Binance’s market response, while the stability of BUSD remains uncertain.   
Binance USD’s recent troubles began when its circulating supply dipped below 1 billion tokens, marking its lowest point since December 2020. Data from Crypto News Flash reveals that BUSD’s current circulating supply stands at 927 million tokens, a staggering 96% decrease from its peak supply of 23.45 billion. This decline has affected its supply and significantly impacted its trading volume, which has now hovered at less than $50 million in the past 24 hours.
Regulatory Challenges and Labeling as a Security
The difficulties facing BUSD date back to the previous year, when the cryptocurrency exchange Binance was sued

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