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Tether Becomes The Third Largest Crypto Indicating Renewed Trust

Emily Mason

Summary: Tether surpassed Ripple earlier this week, becoming the third largest cryptocurrency.  The growth indicates renewed use of the currency after a lawsuit last year revealed that Tether was no longer backed one-to-one with dollars after issuing a loan secured by stock to cryptocurrency exchange Bifinex, leaving investors disgruntled, according to reporting by cointelegraph.com. The Federal ...

Tether surpassed Ripple earlier this week, becoming the third largest cryptocurrency. 

The growth indicates renewed use of the currency after a lawsuit last year revealed that Tether was no longer backed one-to-one with dollars after issuing a loan secured by stock to cryptocurrency exchange Bifinex, leaving investors disgruntled, according to reporting by cointelegraph.com.

The Federal Reserve announced on March 15, 2020 that it was reducing reserve requirement ratios for loans to zero, leading some to believe that the Bifinex shares may be more valuable.

By Emily Mason

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