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At this moment you can deposit defi borrowed usdt into Coinbase pro, swap it for usdc there, and then swap the usdc back to USD and withdraw to your bank accoun
by yokem55 5y ago
At this moment you can deposit defi borrowed usdt into Coinbase pro, swap it for usdc there, and then swap the usdc back to USD and withdraw to your bank account. Then if tether collapses you'd be able to pay back the borrowed usdt for pennies on the dollar.
- pclmulqdq 5y agoThe first step (borrowing usdt on a defi platform) needs you to collateralize that loan with some other form of cryptocurrency. You are forced to have exposure to crypto to make the trade that shorts it.
- saalweachter 5y agoHave you ever seen the bit in a show (or, hell, been caught by a street hustler) where someone asks for help breaking a large bill, and then after a few rounds of confusion and money being handed back and forth walks away with everything?