Crypto Conversation: You Just Can’t Keep Tether Down

What’s Hot in Crypto This week?

It’s Tether (USDT). Tether is by far the largest stable coin in circulation today, with a market capitalization of over $20 billion at the time of writing. It is fiat-collateralized, which means it is centrally managed just like the USD Coin (USDC), which is pegged to the dollar. 

While Tether is much more widely used, it is also known as the questionable stable coin. In the latest news, Tether was still in several legal battles with the U.S. federal government.

Why?

Flipside Crypto just released a new report that suggests USDT is taking over the decentralized finance space. Back in January, Tether was widely accepted as the stablecoin of choice for arbitrage on centralized exchanges, especially in Asia. USDC on the other hand has been all over the news for its dominance in decentralized finance.