Tether restarts from FTX’s collapse to restore market confidence
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Tether restores confidence among investors by ceasing lending activities but more importantly calming everyone about hedges by avoiding the problems FTX had run into. Coinbase is pushing its users to convert USDT, the stablecoin issued by Tether, into USD Coin (USDC), a stablecoin issued by Circle and linked to the dollar. According to the exchange, since the collapse of FTX, USD Coin is the most desirable stablecoin for exchanges, and to encourage its use, it has zeroed the fees for conversion on its platform. “We believe USD Coin (USDC) is a reliable stablecoin so we are making the switch easier:
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