Re:Exposing Tether [video]
by raesene9 on Friday June 18, 2021 @09:27AM
(#27550033)
That's the key point of course, you don't know and neither do I. Nor does anyone else outside of Tether.
Tether is the No.1 most traded coin (by a decent margin) which makes it a very large part of the ecosystem.
Now if their assets are all high quality low risk treasuries, it's likely all fine.
If however their asset are loans to people who used those loans to buy other crypto currencies, things get a lot more risky.
A large shock to the ecosystem, like Tether going bust, would seem like it would have a large impact on the overall space. We've seen in the last month that something a simple as a tweet can send the market up or down by multiple percent...
Re:Exposing Tether [video]
by thebean11 on Friday June 18, 2021 @10:41AM
(#27550867)
Wow, I just checked this and you're right. Tether volume is roughly the volume of BTC + ETH. Wonder why Tether and not DAI. Just not enough DAI available? DAI seems more risky to big traders?
Tether is the No.1 most traded coin (by a decent margin) which makes it a very large part of the ecosystem.
Now if their assets are all high quality low risk treasuries, it's likely all fine.
If however their asset are loans to people who used those loans to buy other crypto currencies, things get a lot more risky.
A large shock to the ecosystem, like Tether going bust, would seem like it would have a large impact on the overall space. We've seen in the last month that something a simple as a tweet can send the market up or down by multiple percent...