The Stable Coin that usually sells and buys at around 0,999$ and 1,01$ got a hit this early morning when, according to data from various exchanges the coin was traded for almost 97 cents. This kind of crash happened before, when the well known May event of Terra affected markets, including the Tether. Coinbase, Kraken, OKX and Binance are the biggest exchanges with data showing this price drop. The CTO of Tether confirmed that the transactional activity on Tether exploded and that there is no reason to worry, such things are normal and happen when the market fluctuates. It should not affect the long term ability of the coin keep its pegged price.

Another representative of the company confirmed that Tether is not affected by the FTX and Alameda events, all being just a liquidity issue affected by the FTX exchange issues.