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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 usednet on Thursday May 12, 2022 @05:00AM (#31351098)
AFAIK, Tether will not convert to USD for you unless you register and have >100k Tether. Therefore, most holders only ability to “cashout” is on exchanges. Obviously, this is problematic.
[ Parent | on HN ]
Re:Tether starting to lose its peg too, after Terra did by Ekaros on Thursday May 12, 2022 @07:01AM (#31352178)
Compounding with this is that when you move money to exchange you have some USD there. But then to actually trade either you receive some stable coin or have to first trade for one...

Probably applies only to some, but still a real insane thing...

[ Parent | on HN ]