Tether’s Market Dominance May Jeopardize Crypto, JPMorgan Says

Tether Holdings Ltd., the operator of the largest stablecoin, is expanding its commanding market share on the heels of record-breaking profits. That’s a risk for crypto overall, according to JPMorgan Chase & Co.

Tether’s USDT token is on the verge of surpassing $100 billion in circulation for the first time. Stablecoins, a form of crypto token pegged to another asset, use large reserves to support their value. They are integral to the way crypto markets operate, acting as a less volatile alternative for traders looking to swap between digital assets and to store their wealth.

Growing concentration in USDT ...