When a Stable Coin Isn’t Truly Stable
What happens when stable coins aren’t really stable? In October 2018, Tether (USDT) dropped by 22% market cap and $0.85 value to the dollar and as of March 2019, their website states that their coin is backed by "reserves," which include traditional fiat and other currencies. Does this mean Tether will fail? What will this mean for cryptocurrencies in the global market? CERES Coin / Tether / USDT.