The Intelligence from The Economist

Hell for Tether: a cryptocurrency crimped

Feb 25, 2021
Matthew Valencia, deputy business affairs editor at The Economist, explores the tumultuous landscape of Tether and its implications for the cryptocurrency market, especially amid regulatory scrutiny. John McDermott, chief Africa correspondent, exposes the financial hardships faced by African parliamentarians, revealing the high costs of political aspirations. Stephanie Studer, China correspondent, discusses the government’s push for physical education reforms to combat declining youth fitness, highlighting a cultural shift towards prioritizing health and masculinity.
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INSIGHT

Crypto Market Volatility

  • Bitcoin's price, along with other cryptocurrencies, has seen a recent surge, but experienced a slight dip.
  • This deflation is linked to another cryptocurrency, Tether, facing regulatory scrutiny.
INSIGHT

Tether's Role

  • Tether, a stablecoin, is pegged to the US dollar to minimize volatility for investors.
  • It also bridges cryptocurrencies and traditional currencies, simplifying exchanges.
INSIGHT

Tether's Influence

  • Tether plays a significant role in the cryptocurrency market.
  • Many Bitcoin purchases on major exchanges are made using Tether.
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