New: Tether’s $1 Billion swap to save the USDT stablecoin

Blockchain platform Tether is planning to save its USDT stablecoin from becoming the next victim of the crypto market massacre by introducing a new currency swap. As part of this, Tether will raise more than 1 billion USDT, equivalent to 1 billion USD. This amount will be raised through a chain swap with a third party, a move that will not affect the total supply of the stablecoin. This development comes as reports of USDT peg destabilising hit the market.