Secondary Stablecoins Capitalized on Lapse of Tether (USDT) Peg

Secondary stablecoins were able to capitalize on Tether slipping from its peg, following the collapse of TerraUSD last month. The post Secondary Stablecoins Capitalized on Lapse of Tether (USDT) Peg appeared first on BeInCrypto.

Timeline of Tether

Tether has been making several big moves lately despite recent concerns about the ripple effects of the Terra UST stablecoin collapse. Now the leading stablecoin has officially launched on yet another blockchain.

Paolo Ardoino, chief technology officer of Bitfinex and Tether spoke on Tether's expansion plans into Latin America. The post Interview: Bitfinex/Tether CTO Paolo Ardoino Weighs Speaks to Tether Expansion Plans in Latin America appeared first on BeInCrypto.

Tether announced today that it is launching its USDT stablecoin on the Tezos blockchain, days after it expanded to Polygon. The post Tether's USDT stablecoin launching on Tezos appeared first on The Block.

The crypto space continues to sink deeper into the abyss, and now Tether – an alleged stable currency – is showing signs of falling victim to the heat in the crypto kitchen. Tether saw itself trading for less than $1 for the first time just a few weeks ago.

The team at Tether claims the Financial Times has a fixation with USDT and the company's execs. Additionally, the Tether team believes the Financial Times has been rehashing the same selective old news to target USDT and its leadership at the company.

Stablecoins were under pressure after the crash of UST algorithmic stablecoin in mid-May. Tether co-founder Reeve Collins on Thursday said the UST collapse could mean the end of most algorithmic stablecoins.

The largest stablecoin with a market cap of $73 billion, Tether, ether has launched its native USDT on Polygon. The move is expected to help Tether gain ground as the leading stablecoin despite the recent de-pegging.

Tether announces the release of a new peso-backed stablecoin on Ethereum, Tron, and Polygon as 40% of Mexican companies consider blockchain adoption.         The post Tether Launches New Stablecoin in Mexico appeared first on BeInCrypto.

Terra's new blockchain will be launched on Saturday followed by an airdrop of new luna (LUNA) tokens to users as part of a broader plan to revive the Terra ecosystem, developers confirmed on Friday.

Crypto markets have continued to haemorrhage since early April this year, as they are pushed down by most other asset classes during the current economic downturn. Biggest stablecoin Tether has lost more than $10 billion over the last couple of weeks as investors are still showing nervousness since the UST depeg.