S&P gives Tether poor marks in new stablecoin scale


FILE PHOTO Tether logo is seen in this illustration taken March 31 2023. REUTERSDado RuvicIllustrationFile Photo

FILE PHOTO: Tether logo is seen in this illustration taken March 31, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

LONDON (Reuters) -Credit rating firm S&P Global has started providing risk assessments of eight of the world's top stablecoins, with the two of the mostly widely used, Tether and Dai, given near bottom marks.

Stablecoins are a form of cryptocurrency backed by an asset or fiat currency. They have surged in popularity but their weaknesses were exposed last year by the spectacular collapse of TerraUSD and its sister coin Luna.


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