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- 🎉 The #CandyDrop Futures Challenge is live — join now to share a 6 BTC prize pool!
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Event ends: August 9, 16:00 UTC
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The two largest US dollar stablecoins have historically experienced serious de-pegging events. Even so, for citizens of other countries with severe inflation, in the long run, US dollar stablecoins are better than their local currencies 🌍
Two major depegging events:
#USDT: In October 2018, it fell to $0.92 due to market doubts about whether the issuer of USDT, Tether, had sufficient reserves of US dollars, whether it had over-issued USDT, and the lack of independent audits of the reserve reports.
#USDC: In March 2023, it fell to $0.87 due to Circle having $3.3 billion in assets at the bankrupt Silicon Valley Bank, raising concerns about USDC's redemption capability.