I want to add a few points:

USDC is now also on stellar blockchain, that is supposed to be used for government issued stable coins. So it is another + 1 point for USDC.

The second is money printing. USDT printer worked really fast in 2021. There were at least 2 days when more than 1 billion USDT were printed. The curious thing is that after the hearings in NY, the amount of USDT printed per day greatly reduced. At the time, Binance started their money printer.