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There’s nobody to trade $70B USDT with except Tether Inc and they’re not paying out haha. Those folks are trapped.
by arcticbull 5y ago
There’s nobody to trade $70B USDT with except Tether Inc and they’re not paying out haha. Those folks are trapped.
- paulgb 5y agoIf you could borrow enough USDT though, you could still break the peg without transacting with Tether directly: - borrow a ton of USDT - trade it for USD on exchanges, eating away at organic demand as well as the reserves used to keep the peg - eventually (presumably) the peg will break and the price will collapse, and you can buy back the USDT for cheap to repay the loan The trouble is getting that USDT-denominated loan, though.
- arcticbull 5y agoAgreed, the difficult part is getting a USDT-denominated loan without crypto collateral and counter-party risk.