USDT issuer Tether has up to $1.7B in excess reserves, CTO says

Cryptocurrency firm Tether — the issuer of stablecoin, Tether (

Circle has faced major issues due to its exposure to the collapse of SVB, with the USDC stablecoin briefly losing its 1:1 peg with the U.S. dollar. The stablecoin subsequently repegged amid Circle announcing Cross River as a new banking partner and expanding ties with BNY Mellon.

Magazine: Unstablecoins: Depegging, bank runs and other risks loom