UST peg

Stablecoin USDT lost from peg to the US dollar

12.05.2022 09:30
by Anđelija Anđelić
1 min read

Stablecoin USDT lost from peg to the US dollar

Against the backdrop of market turbulence, the USDT stablecoin price tested the $0.94 level. Paolo Ardoino, CTO of the issuer of USDT, said that the company’s reserves are enough to buy back all assets at a ratio of 1:1 to the US dollar.

At the time of writing, USDT is trading near $0.98 (Coinbase).

USDT is the largest stablecoin with a capitalization of over $81 billion, according to CoinGecko. Ardoino recalled that USDT exchanges assets for US dollars in a 1:1 ratio through the tether.to portal. The minimum repayment amount is $100,000.

Author

  • Anđelija Anđelić is an Italian language and lit major, and investigative journalist with a special interest in the crypto world and tech innovations. Exploring the ways our world is changing and bringing the freshest info is her passion.

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