An $87 Million Stablecoin Advertises FDIC Protection. It Fell to 81 Cents and Nobody Redeemed.
AP's USDA token promises 1:1 dollar backing and deposit insurance, and its supply has not changed by a single coin in 46 days — through a fall to 81 cents and the whole recovery after it. Behind $87 million of tokens sits $5.4 million of USDT.
Read More →