After the FTX exchange went bankrupt and Binance stopped buying FTX Bitcoin (BTC) and altcoinsharp declines occurred.
The bearish mood in the cryptocurrency market due to FTX and Alemada is the largest stablecoin Tether USD (USDT) was also affected.
Typically traded between $0.999 and $1.01 USDTfell nearly 0.6% from its targeted stability of $1.
Losing stability to the dollar, USDT traded below around $0.993 earlier today.
Binance, OKX, Kraken and coinbaseAccording to data from , USDT is trading in the range of 0.992-0.993 on these four exchanges.
It is not the first time that USDT has lost its peg to the dollar.
In May, which affected the entire cryptocurrency market, terra and algorithmic stablecoin TOPDuring the collapse of USDT, it had regressed to its current levels.
Speaking to Coindesk Tether The representative said:
“We want to emphasize that at this time Tether has absolutely no exposure to FTX or Alameda Research.
Tether tokens are 100% backed by our reserves, and assets backing reserves exceed liabilities.
USDT prices are fixed at $1. However, the potential depegging experienced today comes amid possible contagion risks from liquidity issues at bankrupt cryptocurrency exchange FTX.”
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