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A comment on Tether Withdrawals Top $10B. Parent comment

Re:Tether Withdrawals Top $10B by spullara on Tuesday May 24, 2022 @02:53AM (#31488832)
Isn't the point of a stable coin is that it is always worth $1 each? So market cap is a valuation of $1 * total coins has gone down by $10B. So that means 10B coins were redeemed.
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Re:Tether Withdrawals Top $10B by __turbobrew__ on Tuesday May 24, 2022 @03:12PM (#31496313)
Only if the stablecoin operator isn’t lying about the backing.
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