News for hackers. Stuff that matters.

A comment on Tether starting to lose its peg too, after Terra did. Parent comment

Re:Tether starting to lose its peg too, after Terra did by legulere on Thursday May 12, 2022 @04:28AM (#31350822)
Yes, until they run out of cash and you sit on worthless tether.
[ Parent | on HN ]
Re:Tether starting to lose its peg too, after Terra did by FabHK on Thursday May 12, 2022 @06:48AM (#31352053)
AKA bank run.
[ Parent | on HN ]
Re:Tether starting to lose its peg too, after Terra did by legulere on Friday May 13, 2022 @08:10AM (#31366489)
No. Banks have the problem that they can’t liquidate assets fast enough to pay people in a bank run. Stablecoins simply don’t have enough assets to pay out people.
[ Parent | on HN ]