Tag: Tether

Tether (USDT), the multibillion-dollar stablecoin. has paid out $10 billion in withdrawals since the crypto crash started in early May. The pace of withdrawals means the company is effectively dealing with a slow-motion bank run, as depositors seek to move their cash to more heavily regulated stablecoins. According to public blockchain data, $1 billion USDT…

This past week will surely go down in the history of cryptocurrencies as the point that marked a major shift in attitudes towards stablecoins. On the one hand, it became clear that algorithmic stablecoins did not live up to expectations. On the other, authorities all across the world got a reason to regulate this segment…

This past week will surely go down in the history of cryptocurrencies as the point that marked a major shift in attitudes towards stablecoins. On the one hand, it became clear that algorithmic stablecoins did not live up to expectations. On the other, authorities all across the world got a reason to regulate this segment…

The ubiquitous USDT and USDC stablecoins seem to be facing more and more aggressive young challengers. So let’s take a look at the so-called algorithmic stablecoins, as well as stablecoins backed exclusively by cryptocurrencies, to try and understand the situation in the market. The introduction of the Tron network’s USDD on May 5 was an…

Tether (USDT), the world’s largest stablecoin, regained its peg to the US dollar on Friday after more than $3 billion worth of tokens left the system in a single day. On May 12, the stablecoin sunk as low as 95 cents and struggled to climb back to its intended dollar peg, as the recent collapse…

Fir Tree Capital Management, a $4 billion New York-based hedge fund, is shorting Tether as the largest stablecoin in crypto faces down scrutiny from regulators and fears over ties to the Chinese debt market. According to Bloomberg, Fir Tree has constructed a way to short Tether in an “asymmetric trade.” That means the risk is…