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A comment on Tether ordered to produce documents showing backing of USDT [pdf]. Parent comment

Re:Tether ordered to produce documents showing backing of US... by htrp on Wednesday September 21, 2022 @11:26AM (#32926478)
Very few people converted to cash. It was mostly crypto to crypto iirc (Luna -> Terra -> Tether -> BTC/ETH)

Also Terra was the algorithmically pegged stablecoin to Luna (not Tether in case that was the confusion)

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Re:Tether ordered to produce documents showing backing of US... by Tenoke on Wednesday September 21, 2022 @11:55AM (#32926985)
There was sufficient pressure on USDT, as well as cashing out to the point of USDT briefly dropping in price by a few cents, so this isn't quite accurate.
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Re:Tether ordered to produce documents showing backing of US... by hi5eyes on Wednesday September 21, 2022 @11:48AM (#32926855)
UST is the algostable, terra is the chain
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