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A comment on Anyone Seen Tether’s Billions?. Parent comment

Re:Anyone Seen Tether’s Billions? by r_power_user on Friday October 08, 2021 @03:12AM (#28796538)
I'm not quite sure I follow - in the event that Tether implodes, if you expect the long $1m BTC/USDT exposure to be worthless (assuming you lose the money you had on Binance, and Binance goes under), and your short BTC/USD exposure to make money (since it's a short position, you can only make 100% gain at maximum), doesn't that net out to zero PnL (-$1m loss in long BTC/USDT, and +1m gain in short BTC/USD)?

Unless I'm missing something in your math...

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Re:Anyone Seen Tether’s Billions? by kortilla on Friday October 08, 2021 @12:07PM (#28800827)
The loss is in usdt, which is now worthless and easy to get 1 million units of to repay.
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Re:Anyone Seen Tether’s Billions? by sinsterizme on Friday October 08, 2021 @09:06AM (#28798798)
I think because shorting futures is a leveraged position so max profit is more than 100%
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