USDT-dollar peg wobbles as markets continue to struggle: Tether CTO weighs-in

Cointelegraph reached out to Ardoino to ascertain if there is cause for concern in USDT’s ability to maintain its $1.00 peg in light of recent events. Ardoino stressed that USDT has maintained its stability through multiple black swan events and highly volatile market conditions and has never refused redemptions:

“Tether continues to process redemptions normally amid some expected market panic following yesterday’s market. In spite of that, Tether has not and will not refuse redemptions to any of its customers, which has always been its practice.” With fear, uncertainty and doubt at levels reminiscent of the 2018 Bitcoin market crash, Ardoino offered perspective given the technical differences between USDT and algorithmic stablecoins:

“Unlike these algorithmic stablecoins, Tether holds a strong, conservative and liquid portfolio that consists of cash & cash equivalents, such as short-term treasury bills, money market funds and commercial paper holdings from A-2 and above rated issuers.” The ongoing Terra /UST situation may well have dented confidence in stablecoins’ and respective platforms’ ability to redeem token swaps for their $1.00 peg. Despite that, Ardoino believes that stablecoins will continue to be a vital cog in the cryptocurrency space. “I do not believe that trust was ever lost for centralized stablecoin users,” he said, adding: “There will always be a market for stablecoins as they present an opportunity for traders to interact with the larger crypto ecosystem.

Stablecoins are different, that's true. And USDT is the best!

To everyone in so-called Stable Coins Get out now!!!!

nobody honest expects anything less from the GOAT. nothing to see here

USDT will stay it with no serious troubles

That's 'Paolo'! Not Paulo...we are italian, not spanish

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tether (USDT) to Enlist Third-Party Help to Transition from TRC20 to Ethereum and AvalancheTether announces $1.2 billion 'chain swap' from TRC20 with third-party USDT Ethereum ERC20 Avalanche AVAX Swap Cryptocurency blockchain
Source: Utoday_en - 🏆 295. / 63 Read more »

Tether (USDT) Loses Peg As Mayhem in Stablecoin ContinuesTether (USDT) lost its dollar parity today following the recent drama with Terra's UST stablecoin.
Source: Crypto_Potato - 🏆 568. / 51 Read more »

Tether to move over 1B USDT from Tron to Ethereum and AvalancheTether’s chief technology officer paoloardoino assured traders that USDT is not like algorithmic stablecoins such as UST and has a “strong, conservative and liquid portfolio that consists of cash and cash equivalents.”
Source: Cointelegraph - 🏆 562. / 51 Read more »

Lugano Ties Its Crypto City Dream to TetherLugano’s Plan B initiative is a way to put down a “red carpet” for companies and cryptocurrency fans who want to flock to the Swiss city. Via WIREDUK WiredUK Great timing, Lugano
Source: WIRED - 🏆 555. / 51 Read more »

Lugano Ties Its Crypto City Dream to TetherThe Swiss city is on a quest to make crypto mainstream with an unusual partnership.
Source: WIREDBusiness - 🏆 68. / 68 Read more »

Bitcoin falls below $27K to December 2020 lows as Tether stablecoin peg slips under 99 centsBitcoin falls out of its macro range as BTC price reflects fresh woes for stablecoins including Tether. It’s starting👀 Lol! Your illustrations are epic... Misleading
Source: Cointelegraph - 🏆 562. / 51 Read more »