{"id":2476,"date":"2022-05-20T10:06:53","date_gmt":"2022-05-20T10:06:53","guid":{"rendered":"https://uk20201.com/blog\/?p=2476"},"modified":"2022-05-20T10:06:54","modified_gmt":"2022-05-20T10:06:54","slug":"usdt-tether-tanks-stablecoin-down-5","status":"publish","type":"post","link":"https://uk20201.com/blog\/en\/uncategorized\/ex\/2476\/","title":{"rendered":"<strong>USDT Tether tanks Stablecoin down 5%<\/strong>"},"content":{"rendered":"\n<p>Stablecoin&nbsp;USDT&nbsp;Tether is down 5% to $0.95. This is the lowest the stablecoin has hit in the last 2 years.&nbsp;<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https://uk20201.com/blog\/wp-content\/uploads\/2022\/05\/image-24.png\" alt=\"USDT\" class=\"wp-image-2478\" width=\"353\" height=\"234\" srcset=\"https://uk20201.com/blog\/wp-content\/uploads\/2022\/05\/image-24.png 554w, https://uk20201.com/blog\/wp-content\/uploads\/2022\/05\/image-24-300x199.png 300w\" sizes=\"(max-width: 353px) 100vw, 353px\" \/><\/figure><\/div>\n\n\n\n<p>Close in the heels of UST de-pegging, USDT Tether too could be de-pegging.&nbsp;&nbsp;The stablecoin USDT Tether is down 5 per cent, which is the lowest dip on its value in the past 2 years. The stablecoin is now trading at $0.95, as per data from CoinMarketCap, as of 12:50 pm IST on Thursday.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What is USDT Tether?<\/strong>&nbsp;<\/h2>\n\n\n\n<p>USDT Tether is a stablecoin. It is a cryptocurrency pegged to the US dollar.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>How is Tether pegged to USD?&nbsp;<\/strong><\/h2>\n\n\n\n<p>The stablecoin is pegged to the USD by maintaining a sum of commercial paper, fiduciary deposits, cash, reserve repo notes, and treasury bills in reserves that is equal in USD value to the number of USDT in circulation.&nbsp;<\/p>\n\n\n\n<p><strong>Why was USDT created?&nbsp;<\/strong><\/p>\n\n\n\n<p>The USDT whitepaper states that the objective of creating USDT was to combine the unrestricted nature of cryptocurrencies, that is to send money between users without a trusted third-party intermediary, with the stable value of the US dollar.&nbsp;<\/p>\n\n\n\n<p><strong>Why is Tether Crashing?&nbsp;<\/strong><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https://uk20201.com/blog\/wp-content\/uploads\/2022\/05\/image-25.png\" alt=\"USDT\" class=\"wp-image-2479\" width=\"334\" height=\"222\" srcset=\"https://uk20201.com/blog\/wp-content\/uploads\/2022\/05\/image-25.png 554w, https://uk20201.com/blog\/wp-content\/uploads\/2022\/05\/image-25-300x200.png 300w\" sizes=\"(max-width: 334px) 100vw, 334px\" \/><\/figure><\/div>\n\n\n\n<p>Crypto expert and vice president, Research and Strategy at Earth ID, Sharat Chandra,&nbsp;told that, \u201cVolatility in crypto markets is testing the mettle of stablecoins. After non-collateralized algorithmic stablecoin UST, collateralized stablecoin Tether has lost its peg. It&#8217;s important to highlight the reserve breakdown of Tether.&nbsp; Commercial paper and certificates of deposits form a major chunk of USDT reserves followed by cash and bank deposits and reserve repo notes and Money Market Funds. These are not highly liquid assets. In April , Tether&#8217;s CTO Paolo Ardoino did promise to reduce &nbsp;Tether&#8217;s holdings of commercial paper from &nbsp;the current 30 per cent&nbsp;of total reserves.&#8221;Chandra further explained:&nbsp;&#8220;Decade high inflation and rising interest rates have wreaked havoc on bond and currency markets. The value of assets held by Tether , therefore, has taken a beating in these uncertain times.&#8221;Lastly, he pointed out that the US Fed&#8217;s &#8220;recent Financial Stability Report highlighted that stablecoins are backed by assets that may lose value or become illiquid during stress; hence, they face redemption risks similar to those of prime and tax-exempt MMFs. These vulnerabilities may be exacerbated by a lack of transparency regarding the riskiness and liquidity of assets backing stablecoins. <\/p>\n\n\n\n<p>U.TOWN\uff1a<a href=\"https:\/\/u.town\/en\">https:\/\/u.town\/en<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stablecoin&nbsp;USDT&nbsp;Tether is down 5% to $0.95. T [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2479,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[415,490],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.10 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>USDT Tether tanks Stablecoin down 5% - U.TOWN<\/title>\n<meta name=\"description\" content=\"USDT whitepaper states that the objective of creating USDT was to combine the unrestricted nature of cryptocurrencies\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"zh_TW\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"USDT Tether tanks Stablecoin down 5% - U.TOWN\" \/>\n<meta property=\"og:description\" content=\"USDT whitepaper states that the objective of creating USDT was to combine the unrestricted nature of cryptocurrencies\" \/>\n<meta property=\"og:url\" content=\"https://uk20201.com/blog\/en\/uncategorized\/ex\/2476\/\" \/>\n<meta property=\"og:site_name\" content=\"U.TOWN\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-20T10:06:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-20T10:06:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https://uk20201.com/blog\/wp-content\/uploads\/2022\/05\/image-25.png\" \/>\n\t<meta property=\"og:image:width\" content=\"554\" \/>\n\t<meta property=\"og:image:height\" content=\"369\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"admin1\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin1\" \/>\n\t<meta name=\"twitter:label2\" content=\"\u9810\u4f30\u95b1\u8b80\u6642\u9593\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 \u5206\u9418\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https://uk20201.com/blog\/en\/uncategorized\/ex\/2476\/#article\",\"isPartOf\":{\"@id\":\"https://uk20201.com/blog\/en\/uncategorized\/ex\/2476\/\"},\"author\":{\"name\":\"admin1\",\"@id\":\"https://uk20201.com/blog\/#\/schema\/person\/465f9d960ffe4355dbd44ff26c85a528\"},\"headline\":\"USDT Tether tanks Stablecoin down 5%\",\"datePublished\":\"2022-05-20T10:06:53+00:00\",\"dateModified\":\"2022-05-20T10:06:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https://uk20201.com/blog\/en\/uncategorized\/ex\/2476\/\"},\"wordCount\":402,\"publisher\":{\"@id\":\"https://uk20201.com/blog\/#organization\"},\"keywords\":[\"u.town\",\"USDT\"],\"articleSection\":[\"Uncategorized\"],\"inLanguage\":\"zh-TW\"},{\"@type\":\"WebPage\",\"@id\":\"https://uk20201.com/blog\/en\/uncategorized\/ex\/2476\/\",\"url\":\"https://uk20201.com/blog\/en\/uncategorized\/ex\/2476\/\",\"name\":\"USDT Tether tanks Stablecoin down 5% - 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