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

• 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