Stablecoins Are Unstable!

Send us a textThe $1.3tn cryptocurrency industry was on Thursday hit by one of its toughest challenges when stablecoin Tether — a critical cog in the market — failed to maintain its link with the US dollar. The company refuses to provide details on the Treasury holdings that back the stablecoin claiming their fear of revealing the ‘secret sauce.’Tether tumbled as low as 95.11 cents yesterday, far below the $1 peg that it seeks to maintain. Its price later recovered, but the slip-up, days afte...