In today’s briefing:
- The Data Behind Tether’s Depeg
The Data Behind Tether’s Depeg
- Last week, there was a possible attempt to depeg Tether (USDT), the world’s largest stablecoin.
- The company has since claimed the destabilization was caused by manipulation ahead of a big documents release, which shed new light on the firm’s banking relationships and commercial paper exposure.
- While the facts remain blurry, the selling started a few days before USDT dipped to as low as $.995 on both centralized and decentralized exchanges, suggesting some holders may have had advanced warning of the release.
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