Tether's USDT stablecoin lost its peg to the dollar, dropping to levels last reached during May's implosion of Terra and its related UST stablecoin. By shauryamalwa
Stablecoin Tether 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 previously reached such price levels during May's implosion of Terra and its related UST stablecoin.
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