- Tether — which is meant to always be worth a dollar — sunk as low as 95 cents Thursday.
- By Friday, it was trading firmly at $1 again.
- The company behind the token says it was able to process more than $3 billion in withdrawals “pretty quickly.”
- The collapse of another so-called stablecoin called terraUSD had shaken crypto investors’ confidence in tether.
Tether, the world’s largest stablecoin, regained its peg to the dollar after more than $3 billion worth of tokens left the system in a single day.
The cryptocurrency — which is meant to always be worth $1 — sunk as low as 95 cents on Thursday and struggled to climb back to its intended dollar peg.
