https://news.ycombinator.com/item?id=28798944 https://news.ycombinator.com/item?id=28798944 FTX in particular has standard coin/USD pairs and also USDT pairs.

https://news.ycombinator.com/item?id=28798944 https://news.ycombinator.com/item?id=28798944 FTX in particular has standard coin/USD pairs and also USDT pairs. No reason that USDT collapsing would cause FTX to go bust. Alameda and other market makers might lose a ton if they didn't see it coming.