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A comment on $3B in Bitcoin was sold in a last-ditch attempt to save UST from collapse. Parent comment

Re:$3B in Bitcoin was sold in a last-ditch attempt to save U... by jpmattia on Monday May 16, 2022 @01:15PM (#31400475)
> Did Citibank claim that its value was one-to-one backed with U.S. dollar reserves until they were caught not doing so? If not, they're probably not a relevant comparison to Tether.

I'm not getting what you're saying here: They should make good on their initial message from several years ago? They should now keep all assets in dollars and not earn interest?

[ Parent | on HN ]
Re:$3B in Bitcoin was sold in a last-ditch attempt to save U... by bpt3 on Monday May 16, 2022 @02:36PM (#31401574)
> They should make good on their initial message from several years ago?

Yes.

> They should now keep all assets in dollars and not earn interest?

Since that was how they initially generated interest in the asset, yes.

[ Parent | on HN ]