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The stablecoin wars: unpacking the Tether FUD, post-UST | CoinJournal
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Joe quizzes Dan on his latest article, which dives into the fear, uncertainty, and doubt (FUD) that has followed Tether and its USDT stablecoin for years.
Read the full analysis.
Read more about Tether.
Stablecoins—crypto tokens pegged to the value of real-world assets like the US dollar—have come under the microscope in recent weeks after one of the largest, TerraUSD (UST), fell off its $1 peg before collapsing entirely.
UST’s implosion also brought down the Terra blockchain and its LUNA token in the process, wiping out billions of dollars of wealth and drawing attention to other large stablecoins like Tether (USDT). CoinJournal’s Dan Ashmore looked into Tether’s reserves to see if investors have anything to worry about.
One of the most common uses of stablecoins like Tether is in conjunction with lending platforms like Celsius, Nexo, and Blockfi, which allow users to earn yields of up to ~10% on their cash holdings. Dan and co-host Joe also discuss the phenomenon of declining yields across the board, and why this is happening.
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