Tether Gets a Lift From Stability Doubts
From money.usnews.com
Digital stablecoin tether is winning the race for the title of the crypto world's "least risky" asset. As a regional U.S. banking crisis widens and a regulatory crackdown on crypto firms deepens, investments within the cryptosphere are moving into tokens and coins perceived as relatively safe. Tether is already the top performer among stablecoins -- digital tokens pegged to some fiat asset like the dollar -- and has seen its market value soar since March. Its value is anchored by a 1-to-1 peg against a cache of dollars and a supply cap at around 85 billion tokens. Demand for the coin has been so strong that its peg ...
(full story)