Re:Tether Withdrawals Top $10B
by compsciphd on Tuesday May 24, 2022 @03:07AM
(#31488936)
if tether is backed 1:1 with dollars, how is it not withdrawals?
I.e. either the number of total coins in circulation has dropped (unsure how that is different than withdrawing) or its valuation has dropped (i.e. it lost its peg).
If they are just destroying coins, then they weren't 1:1 (possibly more than 1:1 before, but also possibly less).
I.e. either the number of total coins in circulation has dropped (unsure how that is different than withdrawing) or its valuation has dropped (i.e. it lost its peg).
If they are just destroying coins, then they weren't 1:1 (possibly more than 1:1 before, but also possibly less).