Tether Holdings Ltd.’s stablecoin has recovered all of the roughly $20 billion in market value it lost following the collapse of algorithmic rival TerraUSD a little over a year ago. The circulating supply of the world’s most actively-traded digital asset topped the previous record of $83.2 billion, set in May 2022, according to a live tracker published by British Virgin Islands-based Tether. The firm’s USDT stablecoin is pegged at one-to-one with the dollar, and maintains that value by supporting it with reserves of cash and cash-equivalent assets. USDT’s recovery is a testament to the dominant role it plays in ... (full story)