The LIBOR has been largely displaced in United States by SOFR

a$.$ because LIBOR was subject to intense competition by SIBOR $($Singapore$),$ TIBOR $($Japan$),$ and the Fed rate, which caused an unnecessarily chaotic interest rate environment.

b$.$ because LIBOR was specifically British, and Brexit compelled a change.

c$.$ because LIBOR relied on good faith estimates, which became subject to manipulation.

d$.$ because the Federal Reserve decided to use their own repo or fed funds rates.