News for hackers. Stuff that matters.

A comment on Bitfinex just spent $23.7M in fees to make a single Ethereum transaction. Parent comment

Re:Bitfinex just spent $23.7M in fees to make a single Ether... by sbierwagen on Monday September 27, 2021 @08:25PM (#28677864)
You can't redeem tether for dollars from Tether themselves, yes, but when you swap tether for dollars at a third party exchange then Tether has to pump some dollars into the trade to support the peg.
[ Parent | on HN ]
Re:Bitfinex just spent $23.7M in fees to make a single Ether... by nly on Tuesday September 28, 2021 @02:31AM (#28679897)
Do they? Anyone who believes in the peg could provide that liquidity.
[ Parent | on HN ]