Biggest Crypto Stablecoin Recovers All Value Lost in 2022 Crash.

In the past, industry observers have raised questions over whether Tether's USDT was actually supported by enough reserves to justify the one-for-one peg claim, in addition to the quality of assets making up those reserves. (Bloomberg) -- Tether Holdings Ltd.'s stablecoin has recovered all of the roughly $20 billion in market value it lost following the collapse of algorithmic rival TerraUSD a little over a year ago. The firm's USDT stablecoin is pegged at one-to-one with the dollar, and maintains that value by supporting it with reserves of cash and cash-equivalent assets. [Extracted from the article]