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I really don't know enough about this topic to judge the impact, but from the data I can see this looks like it depegged lower than in the previous incident that was widely reported. That one was to 0.995 and this one is to 0.990 (at the moment I looked it up).

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I believe the all time low of tether is 0.92$. So it has recovered from worse.

Yeah, it's a non-story, it's almost never exactly 1:1 in secondary markets.

The primary market for tether has huge transaction fees, so any collapse will happen on secondary first.

I am not a markets expert, but I would guess that straying far from $1.000 on the secondary markets for any length of time at all is a sign that something very bad is simmering under the surface. There should, I would think, be enough liquidity in a fungible, theoretically stable asset like this that such a glaring arbitrage opportunity can only exist on quantum time scales.

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