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As long as Tether maintains the peg on exchanges you can cash out, this is no different than cashing out directly via Tether

• wmf 5y ago
  When you sell USDT on an exchange the money comes from another trader; this works as long as there are traders who want USDT. If you could redeem and destroy USDT from Tether the money would come from the reserve. If aggregate demand for USDT drops enough then it will matter.
  • alisonkisk 5y ago
    Isn't it Tether itself who "wants USDT"? That's how they maintain the peg.
    • wmf 5y ago
      No, they don't maintain the peg at all.
      • ryanlol 5y ago
        This is strictly not true, Tether makes trades on exchanges in order to maintain the peg.