<-bsp-bb-link state="{"bbHref":"bbg://securities/2213302D%20VI%20Equity","_id":"00000188-7602-d4e2-a1cb-769eaabc0000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Tether Holdings Ltd.-bsp-bb-link>’s stablecoin has recovered all of the roughly $20 billion in market value it lost following the collapse of algorithmic rival TerraUSD a little over a year ago.
The circulating supply of the world’s most actively-traded digital asset topped the previous record of $83.2 billion, set in May 2022, according to a live tracker published by British Virgin Islands-based Tether. The firm’s USDT stablecoin is pegged at one-to-one with the dollar, and maintains that value by supporting it with reserves of cash and cash-equivalent assets.
USDT’s recovery is a testament to the dominant role it ...
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