Tether - Is It as Stable as Thought. What Might the $10 Billion Contraction Mean?

Stablecoins, with a market capitalization of over $170 billion, comprise a significant portion of the crypto market. Based on CoinMarketCap data, the leaders are Tether, USD Coin, and Binance USD. Tether was fined by the Commodity Futures Trading Commission in 2021 for lying about every stablecoin being 100% backed by fiat money. In a 26-month sample time period from 2016 through 2018, Tether only had enough fiat reserves to back 27.6% of tokens in circulation.