Yes quite some time ago its limit was $2000 USDT and $2000 BUSD and interest was 10% APR but recently binance has reduced it to $1000 and interest is only 8% so if one is intending to stake more, then binance Won't work much for him.
But at least he can feel safe risking his USDT on Binance. Moreover, Binance is one of the big exchanges and already has a reputation among other exchanges. And with that result, he would benefit even if there was a reduction to the limit. If I were him, I would choose Binance to stake my USDT because it is a good passive income to try. But that's just a suggestion and he has to figure out what's good for him.
Binance will be a top choice because of its promising features. As for me, it's the safest exchange to stake stable coins. It's reputable and trusted by lots of users for a long time already so no wonder why lots of users are suggesting it. I've tried staking USDT in Binance as well and I didn't encounter any problems but you can do continuous research so you'll find an exchange that will fit the criteria that you have.