Re:US Fed Official Calls Tether a ‘Challenge’ to Financial S...
by gruez on Saturday June 26, 2021 @04:42PM
(#27645647)
>but if they are holding a large amount of Tether when it goes bust, I wouldnt assume any balances held on Coinbase are necessarily safe.
That's only an issue if they blend USDT and USD balances together, which to my knowledge they don't. If you sold a bunch of your bitcoins for USDT rather than USD (which seems unlikely, seeing that BTC-USD has 28x the volume of BTC-USDT), and USDT goes bankrupt, that's on you.
That's only an issue if they blend USDT and USD balances together, which to my knowledge they don't. If you sold a bunch of your bitcoins for USDT rather than USD (which seems unlikely, seeing that BTC-USD has 28x the volume of BTC-USDT), and USDT goes bankrupt, that's on you.