Tether, the world’s largest stablecoin, broke below its $1 peg Thursday amid panic in the crypto market. The token sank to as low as 98 cents at around 3:30 a.m. ET, according to data from CoinGecko. It’s meant to be pegged one-to-one to the U.S. dollar. Tether’s decline came after terraUSD, a different stablecoin, plummeted below 30 cents Wednesday. Vijay Ayyar, head of international at crypto exchange Luno, said the move was likely “speculation-driven fear” resulting from the fallout of UST’s plunge. “The environment is ripe for such news events to cause ripples through the markets as we can see,” he told CNBC. ... (full story)