FTX US’s wallets appear to be hacked, $600M leaving the exchange

Re:FTX US’s wallets appear to be hacked, $600M leaving the e... by ISL on Saturday November 12, 2022 @02:17AM (#33570869)

If there were a clear and well-regulated equivalent of Tether, with obvious and transparent dollar-backing, I suspect it would find a lot of usage.

Might cost $1.15 to mint a new USD-coin redeemable for $1.00, but I suspect there would be an appetite.

Massive volatility and the occasional collapse of a crypto-bank are probably hindering the appetite of many people for anything in the crypto market. That population probably would dwarf any yield-farmers.

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Re:FTX US’s wallets appear to be hacked, $600M leaving the e... by atdrummond on Saturday November 12, 2022 @02:22AM (#33570894)

Right now stablecoins are a pretty profitable business because of interest rates.

An attestation report available 24/7 should be generated easily if you’re doing things properly, as well as frictionless burning and minting.

Note: I work for Glo, a non-profit stablecoin, so have a vested interest in this space. I do not and am not speaking on behalf of our group.

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Re:FTX US’s wallets appear to be hacked, $600M leaving the e... by everfree on Saturday November 12, 2022 @02:47AM (#33571013)

> If there were a clear and well-regulated equivalent of Tether, with obvious and transparent dollar-backing

There are several. I compiled a list of them a few months ago.

https://news.ycombinator.com/item?id=31381864

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