The history of stablecoins in cryptocurrency has been a volatile one. It is a story not just of stability but also of skepticism, scrutiny and speculation. There have been enthusiasts who swear by it and skeptics who question their very existence.
A stablecoin is a coin that is pegged to a certain asset. The most common example is the US dollar that has USD Tether (USDT) and True USD as stablecoins. Stablecoins aim to bring on the benefits of decentralization while providing some of the stability of the real world. But many stablecoins have left a lot to be desired.
The Tether Story … and Bitfinex
USDT is probably the stablecoin that is most well known and also the one that has the greatest amount of scrutiny. USDT is used on the majority of crypto-to-crypto exchanges to enable traders to speculate on the value of varying cryptocurrencies in relation to their USD