Tether treasury receives two $50M USDT lump sums from Bitfinex
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Two 50 million Tether (
According to Cointelegraph’s own analysis, stablecoins have been experiencing a 17-month decline, with investors moving to more traditional assets.
This comes as the United States Federal Reserve called the assets a potential “source of financial instability” on Sept. 28.
It said that its findings show that, “stablecoins are vulnerable to runs during periods of broad crypto market dislocation as well as idiosyncratic stress events.”
This asset type has also been a major talking point for officials in lawsuits plaguing the crypto industry. In the U.S. Securities and Exchange Commission vs. Binance case, USD Coin (USDC) issuer Circle recently argued that stablecoins are not securities.
Despite this, Tether has seen a rise in USDT-based stablecoin loans in 2023.
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