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US$7B Flee Tether Last Week after TerraUSD Slide
The de-peg of stablecoin TerraUSD (UST) with USD last week sparked a shakeup in crypto market. Financial Times broke news that investors withdrew US$7 billion from stablecoin Tethe...
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US$7B Flee Tether Last Week after TerraUSD Slide
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2022/05/17 17:55
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The de-peg of stablecoin TerraUSD (UST) with USD last week sparked a shakeup in crypto market. Financial Times broke news that investors withdrew US$7 billion from stablecoin Tether, intensifying the concern about the assets that back the global cryptocurrency market.

Based on CryptoCompare data, the market cap of Tether plunged 9% to US$76 billion since 12 May, because tokens have been removed from circulation to meet redemption requests.
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