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

Re:Tether Withdrawals Top $10B by randomhodler84 on Tuesday May 24, 2022 @05:08PM (#31497561)
The counter party is a smart contract AMM like curve or aave. Your only issue is liquidity and chain reliability.
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Re:Tether Withdrawals Top $10B by lmm on Tuesday May 24, 2022 @08:48PM (#31499365)
Both of which are pretty big issues in the scenario we're talking about. When Tether crashes it will take down a significant chunk of the crypto world with it.
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Re:Tether Withdrawals Top $10B by X6S1x6Okd1st on Wednesday May 25, 2022 @10:32PM (#31513612)
I wouldn't be surprised if congestion is extremely high on ETH if USDT collapses, but I'd be shocked if the chain started missing blocks.

Do you think that USDC would depeg as well?

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Re:Tether Withdrawals Top $10B by lmm on Thursday May 26, 2022 @08:50PM (#31524987)
If the bid and offer are like $2 - $.50, do you consider that a "depeg" or not? I think liquidity will disappear, transaction fees will go to the moon, and there won't really be a meaningful "price" because trades won't be happening.
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