The dig is impossible to resist. On Thursday, tether – the world’s biggest ‘stablecoin’ – briefly became untethered from its dollar peg. Tether’s value sank to 95¢ before recovering to 97¢ That may seem a minor oscillation but indicates a bigger issue that does not bode well. Stablecoins are supposed to be, well, stable and fully backed by readily convertible assets. However, of late, the stablecoin universe has witnessed violent price swings and even implosions. TerraUSD (UST) last week crashed rather spectacularly after some minor initial wobbles not unlike those experienced by tether.