Last week, Tether, the indisputable champion of the stablecoin market, announced that it would be starting from scratch to launch USAT, a US-only, GENIUS Act-compliant stablecoin. The launch is an act of necessity for a company that has to align with new U.S. laws or risk losing its position as the crypto market’s leading stablecoin. So how did we get here? Rewind to 2014. Bitcoin is barely five years old, and a no name company in a mocked, infant industry, Tether, decides to issue a dollar-pegged crypto ...