Tether Cuts Commercial Paper Holdings Backing Stablecoin By 50%

Tether cuts commercial paper holdings that back the stablecoin by 50% as the CTO Paolo Ardoino revealed the news so let's read more today in our latest Tether news. During a recent Twitter space, discussing stablecoins and the recent crypto volatility, Tether's CTO Paolo Ardoino said the stablecoin provider cut the amount of the commercial

Timeline of Tether

With the market in turmoil, crypto investors are beginning to turn to stablecoins such as USDT and USDC to provide cover from losses. These stablecoins which are pegged to the U.S. dollar have been the obvious winners from the recent crash but it seems that investors are taking it one step further this time around.

During a Twitter Spaces conversation on May 12, Bitfinex CTO Paolo Ardoino dismissed reports that Tether was in trouble. The post Bitfinex CTO plays down reports that Tether was in trouble appeared first on CryptoSlate.

Whales have been actively dumping their USDT holdings on the market after the danger of a de-pegging, according to the most current statistics from Santiment. The price of USDT briefly fell to $0.97 yesterday, but quickly returned to $1. ? In case there was any doubt on the seriousness of #Tether losing its $1 peg, …

Tether lost its dollar peg amid the ongoing stablecoin crisis and the de-pegging of the UST stablecoin so let's read more today in our latest Tether news today. The first and biggest dollar-pegged stablecoin lost its peg amid the stablecoin crisis.

Today, on the 12th of May Tether stated that the firm is planning to coordinate with a third party in order to perform a chain swap so that it can raise more than $ 1 billion USDT while maintaining total supply. For every swap, Tether plans to use Tron TRC20r. The move came when the …

The meltdown in TerraUSD, one of the world's largest stablecoins, rippled through cryptocurrency markets on Thursday, pushing another major stablecoin Tether below its dollar peg and sending bitcoin to 16-month lows.

Following on from the attack on the UST stablecoin algorithmic dollar peg, and its more or less total destruction, could forces be brought to bear on the Tether USDT dollar peg? Back in the early 2000s, one of the most infamous collapses occurred on Wall Street.

The year 2022 isnt been very favorable for the cryptocurrency market, especially the month of April and May. Now in just a few days, the cryptocurrency market has suffered more losses following Terra blockchain's stablecoin TerraUSD (UST) depegging event which has caused conflict between Bitcoin and stablecoins. As USDT/USD lost its peg against the dollar …

The LUNA/UST affair has caused discrepancies in the BTC-stablecoin trading pairs on different global cryptocurrency exchanges. Cryptocurrencies are still feeling the effects of the TerraUSD disaster, with markets continuing to suffer significant losses.

Tether, issuer of the dollar-based stablecoin USDT, has announced that it will honor all redemptions at USD $1 for all verified customers. The commitment by Tether arrives at a time of unprecedented volatility in crypto markets.