Member-only story
Tether (USDT) Depeg May Just be Starting
The stability of the cryptocurrency market took a hit recently as the industry’s largest stablecoin, Tether (USDT), experienced a sudden depegging. This development has caused a stir within the digital currency ecosystem, raising suspicions and concerns among investors and enthusiasts. As the price of USDT dipped to $0.9991, experts are attributing this depegging to a loan saga on the DeFi platform Curve. In this article, we will explore the details surrounding Tether’s depegging and delve into the new revelations unveiled by Tether Holdings Ltd.
The Depegging of Tether (USDT)
The depegging of Tether (USDT) has sent shockwaves through the cryptocurrency market. Tether, which is known as a stablecoin designed to maintain a 1:1 peg with the US dollar, has faced intense scrutiny in recent times due to concerns over its reserves and transparency. The sudden depegging has only added to the existing doubts and suspicions surrounding this popular stablecoin.
The Loan Saga on DeFi Platform Curve
The loan saga on the decentralized finance (DeFi) platform Curve is being highlighted as the main catalyst for Tether’s depegging. The details of this saga are slowly emerging, shedding light on the events that led to the destabilization of USDT. The loan defaults and…
