Re:Shorting Tether for Fun and Profit
by rippercushions on Sunday January 08, 2023 @02:56PM
(#34302450)
It's exceedingly unlikely that Tether has anything close to 66B of "real money" backing it.
The most likely theory at this point is that most of it is FTX-style IOUs from other crypto companies marked at absurd pre -crypto winter valuations, which will collapse like a house of cards the instant they are touched or even exposed to light.
The most likely theory at this point is that most of it is FTX-style IOUs from other crypto companies marked at absurd pre -crypto winter valuations, which will collapse like a house of cards the instant they are touched or even exposed to light.