Tether co-founder's stablecoin USST unpegged hours after launch.

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[Tether co-founder's stablecoin USST unpegged hours after launch] On October 10, the new stablecoin USST launched by the stablecoin platform STBL fell below the 1 dollar peg within hours of going live on the Curve platform, dropping as low as 0.96 dollars. One of the co-founders of the STBL platform is also a co-founder of Tether, and this unpegging event has raised market concerns about the credibility of the project. According to data from GeckoTerminal, as of the time of writing, the trading price of USST is approximately $0.9746, with a 24-hour fall of 1.75%; its market capitalization is about $963,900, with only 53 holders.

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