Tether reserves backed by 2.9% cash

Re:Tether reserves backed by 2.9% cash by nlitened on Friday May 14, 2021 @07:25AM (#27153058)

I believe, in your analogy Tether _is_ the central bank. They don’t need a fall back, they print the money.

[ Parent | on HN ]

Re:Tether reserves backed by 2.9% cash by atq2119 on Saturday May 15, 2021 @02:12AM (#27162866)

Well, they don't print the USD. But you're right, perhaps a better analogy for what people mean is a central bank trying to maintain a currency peg. Which also often ends badly...

[ Parent | on HN ]