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A comment on Fintech dystopia. Parent comment

Re:Fintech dystopia by lavezzi on Tuesday July 29, 2025 @08:56PM (#44729967)
Please tell me you're not linking to one of the biggest frauds of all time as evidence of doing the right thing and being backed by real dollars?
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Re:Fintech dystopia by carleverett on Wednesday July 30, 2025 @12:28PM (#44736295)
If it's a fraud, then it's one with a working product.

In 2022 when confidence in stablecoins plummeted after the Terra collapse, $20 billion in Tether was liquidated in a month - $10 billion of that in a single day: https://www.coingecko.com/en/coins/tether

Through that black swan event Tether did its job, processing redemptions for collateral dollar for dollar.

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