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Tether's Stability in Question as New Details Emerge Following Depegging and Release of Documents

June 16 (Cointime) - The digital currency world was shaken up after Tether (USDT), the largest stablecoin in the industry, was depegged and dropped to $0.9991 due to a loan issue on the DeFi platform Curve.

Tether Holdings Ltd has since issued a statement revealing new information about the situation, including the release of documents to Coindesk that show the company's reserves and asset management practices.

Tether has requested that Coindesk not reveal any information about its customers, and the industry is now waiting to see if the released documents will cause controversy and lead to further fear, uncertainty, and doubt (FUD) surrounding Tether.

Coindesk has previously played a significant role in uncovering financial impropriety in the crypto industry, such as with Alameda Research, which led to the collapse of FTX.

Tether USDt Tether USDt $1.00
-0.02%
Tether stablecoin
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