Tether's launching a new stablecoin — this is what it does 👇
Tether has announced it's launching a new stablecoin that's pegged to the British pound.
"This initiative, paired with hundreds of millions of people using crypto around the world, makes the United Kingdom a prime location for the next wave of industry innovation." Paolo Ardoino, Tether's CTO, described the U.K. as "the next frontier for blockchain innovation," adding: And figures from CoinMarketCap reveal that the market cap of USDT has dwindled substantially as the bear market takes hold.
Warning that "simple users" risk taking the biggest hit as "coordinated funds" cash in on the uncertainty, Tether added:
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