Trust for Stablecoins: USDT is Top Choice for 38%by@ashumerie
326 reads

Trust for Stablecoins: USDT is Top Choice for 38%

tldt arrow
Read on Terminal Reader
Read this story w/o Javascript

Too Long; Didn't Read

The recent de-peg of USD Coin (USDC) has highlighted a flaw in the design of fiat-backed stablecoins, with Circle's USDC temporarily falling to 88 cents due to the fractional reserve held at the Silicon Valley Bank (SVB), which suffered a bank run on March 10. In a HackerNoon poll, 38% of users trust Tether (USDT), followed by USDC at 22%, and DAI at 14%. While stablecoins offer an alternative to volatile cryptocurrencies, the market remains uncertain, and the recent event with USDC may prompt changes in the design of fiat-backed stablecoins.
featured image - Trust for Stablecoins: USDT is Top Choice for 38%
Asher  HackerNoon profile picture

@ashumerie

Asher


Receive Stories from @ashumerie

react to story with heart

RELATED STORIES

L O A D I N G
. . . comments & more!
Hackernoon hq - po box 2206, edwards, colorado 81632, usa