Tether's USDT Stablecoin Slips From $1 Peg
Stablecoin Tether USD (USDT) changed hands below $0.993 early Thursday, down 0.6% from its intended $1 peg as traders considered contagion risks from crypto exchange FTX and its related trading arm Alameda Research.
- USDT usually trades between $0.999 and $1.01. Data from Kraken, Binance, Coinbase and OKX show the stablecoin currently trading in the $0.992-$0.993 range at the four venues.
- USDT previously reached such price levels during May's implosion of Terra and its related UST stablecoin.