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The bigger concern is trading volume. I made another comment in chain about this but the short of it is that while Tether only makes up a 20th of the entire mar
by jacoblambda 5y ago
The bigger concern is trading volume. I made another comment in chain about this but the short of it is that while Tether only makes up a 20th of the entire market cap, it makes up almost all of the trading volume on exchanges nowadays. If Tether catastrophically fails it'll pull the entire market with it and that'll have serious consequences now that there is institutional involvement in the cryptocurrency market.
The broader goal here whenever this is brought up is to push people away from Tether towards other less problematic stablecoins.
This isn't FUD, it's a call to action for communities and exchanges to start minimising their exposure to the risks that the current Tether situation poses.
- np_tedious 5y agoI guess my point is: Not that they'd ever do this, but if the Fed were really concerned they could easily bail out tether without doing anything outside of the "norm". > This isn't FUD, it's a call to action for communities and exchanges to start minimising their exposure to the risks that the current Tether situation poses. This seems a fair description of your posts. It does not seem to describe the Fed governor's statement