Re:Crypto.com Will Delist Tether in Canada
by sam_goody on Wednesday January 11, 2023 @04:09AM
(#34336590)
ATM, Binance needs a lot of cash, as they are still having >$50M a day in withdrawals.
We know (from chats that were made public by FTX employees) that they are working with Tether to make sure that everything looks backed and solid and regain confidence.
It is not impossible that Binance is already in the hole, and using some of Tether's cash, or that such a position is imminent.
If we give Binanace time to stabilize before there is a run on Tether, then their combined coffers will be much larger, thus preventing the crash.
We know (from chats that were made public by FTX employees) that they are working with Tether to make sure that everything looks backed and solid and regain confidence.
It is not impossible that Binance is already in the hole, and using some of Tether's cash, or that such a position is imminent.
If we give Binanace time to stabilize before there is a run on Tether, then their combined coffers will be much larger, thus preventing the crash.