Tether or not to tether - the complicated history of the world's first stablecoin

Stablecoins are cryptocurrencies that are pegged against an existing fiat currency, like the American Dollar. Their aim to counter the volatility seen in other cryptocurrencies like Bitcoin or Ethereum.

Among the stablecoins, Tether is considered the most popular among all with a market cap of more than $60 billion. It is also the first-ever stablecoin. However, many questions have been brought up about whether Tether really has enough US dollars to back up its holdings.

Despite its many controversies, Tether has stood up against the test of time so far.

That being said, DYOR before making any investment. Let us know where you stand on the stablecoin that has been accused of market manipulation.