USDC, the stablecoin issued by Circle, has seen a significant market capitalization increase of 59% during Donald Trump's second term, rising from $48 billion to $76 billion. This growth surpasses that of USDT, which grew by 32.5%, from $138 billion to $183 billion. The GENIUS Act, passed under Trump's administration, aims to limit offshore stablecoin issuers like Tether. In response, Tether, headquartered in El Salvador, is planning to introduce a U.S.-based stablecoin, with leadership from Bo Hines, a former executive director of Trump's Council of Advisers on Digital Assets. Tether's reserves are managed by Cantor Fitzgerald, founded by Trump's commerce secretary, Howard Lutnick.