Tether's market cap has declined significantly over the past month USDT
“false” rumors about holding Chinese commercial papers that are trading at a massive discount.
In a recent interview with The New York Times, Tether CTO Paolo Ardoino said that the company would be willing to redeem its tokens “to the last cent.” USDT came under pressure in May following the collapse of TerraUSD , which was the biggest algorithmic stablecoin, briefly losing its peg. Due to pressure from lawmakers, regulators, economists, and naysayers within the industry, USDT remains vulnerable, which benefits rival USDC.
Other stablecoins are also vying to capture a bigger share of the market. Binance USD , the stablecoin of cryptocurrency behemoth Binance.
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