Tether’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.”
, slipping below $0.99 on many exchange platforms on Thursday. As a result, many expressed concerns over the most-traded stablecoin showing signs of struggle.
such as UST. Ardoino said that Tether has a “strong, conservative and liquid portfolio that consists of cash and cash equivalents.” This includes treasury bills, money market funds and commercial paper holdings.that the ongoing fear, uncertainty or doubt, or FUD, surrounding stablecoins is becoming a money-making stream for some traders. He explained that some firms are buying USDT below $1 on some exchanges and are redeeming it for above $1 on Bitfinex and the Tether website.
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