Stablecoins used to be a sort of taboo subject in the crypto community after it became common practice to criticize Tether’s reserve backing. Are you really a seasoned crypto investor if you haven’t gone down the (USDT) rabbit hole? That was all put to rest in May 2021. Tether successfully passed an assurance testingby revealing its reserves for first time. For some onlookers, the reserve breakdown created more questions than answers due to the stablecoin issuer’s oversized exposure to commercial paper.

In the four past years, the stablecoin market has seen a rapid growth. Tether still holds the top spot, however Circle Internet Financial is climbing the rankings thanks to the success of USDC Coin.USDC). TerraUSD (UST), a leading player in the space, has just been awarded significant funding from large venture capital funds.

Circle’s valuation doubles to $9B following revised merger agreement with Concord

Luna Foundation Guard raises $1B for a UST reserve.

The latest reserves attestation from Tether shows that 21% of commercial paper has been slashed by Tether

London Stock Exchange buys Tora, a cloud-based technology provider from Tora for $325M

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