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Investors withdraw over $7 billion from tether, raising fresh fears about stablecoin’s backing

by 24/7 MarketNews Admin

May 17, 2022 at 9:37 AM

Tether’s circulating supply has slipped from about $83 billion a week ago to less than $76 billion on Tuesday, according to data from CoinGecko.
The so-called stablecoin slipped below its intended $1 peg Thursday amid panic over the collapse of rival token terraUSD.
The situation has once again placed the subject of the reserves behind tether under the spotlight.

https://www.cnbc.com/2022/05/17/tether-usdt-redemptions-fuel-fears-about-stablecoins-backing.html

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Investors withdraw over $7 billion from tether, raising fresh fears about stablecoin’s backing

RelatedNews

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Want more news like this? Check out our homepage!

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Aridis Receives FDA Feedback on Single Confirmatory Phase 3 Study of AR-301 and the Clinical Study Design

Remark AI Awarded $6 million Rio De Janeiro police contract

Adamas One Acquires Minority Equity Stake in NexGenAI Solutions Group

LL Flooring Receives Unsolicited Buyout Offer

Marker Therapeutics Reports Positive MT-601 Pre-Clinical Data

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