Re:Tether Withdrawals Top $10B
by sam_goody on Wednesday May 25, 2022 @04:54AM
(#31502019)
Yeah, "Fake it till you make it", and they made it.
They are the only stablecoin I would ever consider buying, because they by now have enough resources to fake it long term.
I've read that the main reasons that people invest in a stablecoin (from least to most) is to:
a) buy/sell other crypto easily,
b) store illegal gains without drawing attention to yourself
c) move your money out of the country.
Reason C is especially pertinent to China, and the environment there (from what I read on U.S. media, which is HIGHLY unreliable) is not pushing them to run the bank.
IMO, the biggest risk for Tether is that the AG suddenly announces that they won't be able to trade in the States, as that will cause a run, and that is definitely possible.
They are the only stablecoin I would ever consider buying, because they by now have enough resources to fake it long term.
I've read that the main reasons that people invest in a stablecoin (from least to most) is to: a) buy/sell other crypto easily, b) store illegal gains without drawing attention to yourself c) move your money out of the country.
Reason C is especially pertinent to China, and the environment there (from what I read on U.S. media, which is HIGHLY unreliable) is not pushing them to run the bank.
IMO, the biggest risk for Tether is that the AG suddenly announces that they won't be able to trade in the States, as that will cause a run, and that is definitely possible.