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A comment on Tether USDT is depegging from dollar. Parent comment

Re:Tether USDT is depegging from dollar by shawabawa3 on Thursday November 10, 2022 @08:03AM (#33545819)
It can temporarily depeg if there are more people selling than there are people who are able to redeem who are incentivised to defend the peg

On Bitfinex the peg has held strong because Bitfinex have a close relationship with Tether and enabled customers to convert USD/USDt freely (for now)

Other exchanges are experiencing either a temporarily blip (will eventually get arbitraged away) or it's the beginning of Tether being insolvent. Time will tell

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Re:Tether USDT is depegging from dollar by LegitShady on Thursday November 10, 2022 @08:20AM (#33545985)
>people who are able to redeem who are incentivised to defend the peg

This doesn't make any sense. Either you can sell it for $1 or you can't. If you can then it's free money to buy tether from people selling below $1 and selling it back to tether for $1.

I would describe the relationship between tether and bf as more than "close" they have the same owner.

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