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A comment on CFTC Orders Tether and Bitfinex to Pay Fines Totaling $42.5M. Parent comment

Re:CFTC Orders Tether and Bitfinex to Pay Fines Totaling $42.5M by technotony on Friday October 15, 2021 @01:28PM (#28880387)
It's not about trading pairs, those can easily switch to USDC or other stables. The big challenge will be the futures markets which are nearly exclusively with USDT. If tether collapses so do all those futures, which presumably will cause chaotic algorithmic driven effects as hedging positions evaporate.
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Re:CFTC Orders Tether and Bitfinex to Pay Fines Totaling $42.5M by humaniania on Friday October 15, 2021 @02:39PM (#28881378)
What about the billions in exchange balances held in USDT? That's a lot of liability for the exchanges holding those, right?
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Re:CFTC Orders Tether and Bitfinex to Pay Fines Totaling $42.5M by adflux on Friday October 15, 2021 @06:09PM (#28883696)
You mean a liability for the users of that exchange
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Re:CFTC Orders Tether and Bitfinex to Pay Fines Totaling $42.5M by chollida1 on Friday October 15, 2021 @03:46PM (#28882235)
CME futures are all USD cash settled.

Or are you referring to unregulated futures on some crypto exchanges?

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Re:CFTC Orders Tether and Bitfinex to Pay Fines Totaling $42.5M by gammarator on Friday October 15, 2021 @02:55PM (#28881606)
> those can easily switch to USDC or other stables.

So why don't they? Why would literally anyone choose to hold USDT over any other stablecoin?

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