https://www.theguardian.com/technology/2022/may/12/stablecoin-tether-breaks-dollar-peg-cryptocurrencies

Fears of contagion among already falling cryptocurrencies if tether follows terra into collapse

Tether, the largest “stablecoin” and a foundational part of the cryptocurrency ecosystem, is at risk of a bank run after breaking its peg to the dollar amid the sector’s worst crash in years.