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A comment on FTX Tapped into Customer Accounts to Fund Risky Bets, Setting Up Its Downfall. Parent comment

Re:FTX Tapped into Customer Accounts to Fund Risky Bets, Set... by Animats on Thursday November 10, 2022 @03:46PM (#33553072)
Tether will stay very close to 1.0 until, some day, they can't make a redemption. The number to watch is their "market cap". Note that Tether can make that go up by minting more Tether, but when you see it go down, that usually means someone cashed out.

Stablecoins have only two stable points: 1 and 0.

[ Parent | on HN ]
Re:FTX Tapped into Customer Accounts to Fund Risky Bets, Set... by Panzer04 on Thursday November 10, 2022 @06:54PM (#33555412)
You'd think Tether would be printing money arbing their coin, at this rate.
[ Parent | on HN ]