It was a day of high drama in the cryptocurrency market, with Tether’s USDT slightly deviating from its United States dollar peg. Interestignly, coinciding with a significant release of information by the New York Attorney General’s Office to CoinDesk.

However, Tether’s Chief Technology Officer (CTO), Paolo Ardoino, has responded robustly to these developments. He declared the events a planned attack on Tether. Still, company was well prepared and has emerged stronger than ever.

Tether Loses Peg

Paolo Ardoino was unequivocal in his assessment of the day’s events. “Today is a good day at Tether,” he began, highlighting the stablecoin’s strength and readiness to protect its community in the face of what he characterized as an attack.

Ardoino suggested that the depegging of USDT was an orchestrated effort designed to undermine confidence in the stablecoin. Still, he argued that Tether has nothing to hide and is stronger than ever.

The so-called “attack” began when USDT deviated from its usual peg to the US dollar. The incident was caused due to an Go to Source to See Full Article
Author: Bary Rahma

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