I guess this was reported sometime yesterday. It did go down slightly but is now up 15% in the last 24 hours, presently over $40k as of this writing.
I don't consider Tether a crypto in the conventional sense. It's a very convenient gateway between crypto and fiat dollars and for that reason, enjoys the most transactions in the entire crypto world including bitcoin, in spite of only having about 8% of the market cap of bitcoin. Tether really demonstrates how even in the crypto world, everyone routinely considers the dollar to be a stable unit of value. I'd as soon see Tether dry up and blow away.
But there are a couple other stable coins, as they are called, to replace Tether if it goes down.
It's still there, but like all cryptos, is down from it's peak. Mid April saw Ripple trading at almost $2/coin, its red hot price, but it's down now to about 1/3rd of that.
Haven't heard much regulatory news about that lately, but at last word, Ripple was arguing the suit against them is full of holes.