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Benzinga
Benzinga
Business
Shiv Juneja

Crypto Market Anxieties Heighten As Tether Market Cap Drops To $70B

TER Crypto UST

Investors recently sold over $1.6 billion of Tether (CRYPTO: USDT), dropping its market capitalization to $70 billion.

What Happened: On the heels of a cryptocurrency crash, Tether saw an outflow of $1.6 billion of funds. This capital pull-out coincided with the recent crash of Terra’s stablecoin UST (CRYPTO: UST), which created uncertainty around stablecoins.

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