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A comment on Why Banks Are Suddenly Closing Down Customer Accounts. Parent comment

Re:Why Banks Are Suddenly Closing Down Customer Accounts by plagiarist on Monday November 06, 2023 @09:26AM (#38162994)
I was under the impression that all of the "pegged to the dollar" coins are too fragile for storing money long term. But USDT dropped down to 94 cents during the crash I was thinking of when others more thoroughly collapsed. What's the difference there?
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Re:Why Banks Are Suddenly Closing Down Customer Accounts by sgjohnson on Monday November 06, 2023 @10:16AM (#38163696)
> But USDT dropped down to 94 cents during the crash

While that is true, they were redeeming them 1:1. So you could buy them at a 6% discount on the exchange, but redeem them, for free 6%.

Few people did because enough of them thought that USDT is going to the ground, causing the discount.

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