Hold on to your hats, Tether USDT shows signs of de-pegging on exchanges

The value of Tether (USDT) stablecoin against the United States dollar is seeing significant downward pressure on exchanges and has fallen below its $1 peg price. The post Hold on to your hats, Tether USDT shows signs of de-pegging on exchanges appeared first on CryptoSlate.

Timeline of Tether

The stablecoin Tether has the majority of its reserves in U.S. Treasuries, having dropped its exposure to commercial paper over the last six months, its chief technology officer Paolo Ardoino said in a Twitter Spaces chat on Thursday.

Just as the crypto space is experiencing the most dreadful days in its history, the said backbone ‘Tether' also tumbles up. No doubt the USDT peg-de-peg is just a normal routine during the bull run and market corrections. But this time it may be a matter of concern as the crypto space is filled up …

The stablecoin's open market price dropped below $0.96 on Thursday, three days after TetherUSD definitively broke from its dollar peg. The post Tether's market price slips below dollar parity amid ongoing stablecoin woes appeared first on The Block.

In this interview, Tether's CTO shares his thoughts on algorithmic stablecoins like Terra's UST, growing competition, IPO plans, and how the company handled the entire Bitfinex hack ordeal.

Leading multi-asset brokerage, FXPIG has announced the launch of over 60 cryptocurrency pairs as CFDs. The global broker is the first to offer APEUSDT as a cryptocurrency CFD and has one of the largest offerings of crypto CFDs based on USDT.

Tether is ready for whatever the economic climate throws at it,  Chief Technical Officer Paolo Ardoino told CryptoSlate at the Paris Blockchain Week Summit. The post We are ready for a bank run says Tether CTO Paolo Ardoino appeared first on CryptoSlate.