At its peak, terrar was worth about 18 million dollars. It's now approximately zero - although it still has a little bit of market cap. Tether also slipped from its peg and dipped down to 95 cents briefly last thursday. But tether is backed by corporate debt, cash and treasury bills. So they operated on sort of completely different systems.
Stablecoins are essential to the financial plumbing of the cryptocurrency world. They’re pegged to a real-world asset, usually the dollar. But when that peg breaks, things can turn ugly in a hurry. Much of India is suffering through a particularly blistering and costly
heatwave. And Indonesians’ love of songbirds is threatening wild bird populations within and beyond Indonesia itself. For full access to print, digital and audio editions of
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