Is USDT Coming Untethered?
In the wake of Terra’s spectacular crash, Tether is showing signs of instability. Could this be the beginning of the end for crypto’s biggest stablecoin? — STORY UPDATED: 3:45 PM EST, 05/16/22 (Updates at bottom of article!) It is Thursday, May 12th as I’m writing this, and the entire market is still reeling from the collapse of Luna and its dollar-pegged stablecoin TerraUSD (UST). For those who don’t know what happened, here’s a brief re-cap: