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Why would stablecoins other than Tether die?
by everfree 5y ago
Why would stablecoins other than Tether die?
- jqpabc123 5y agoMore then half of all crypto trades involve Tether --- it pervades the entire crypto market. Anything that is not truthfully fully backed by assets outside of crypto land will almost certainly be affected.
- acdha 5y agoDepends on what they're tied to and how leveraged they are: anything backed on some other cryptocurrency will likely have a massive crunch if Bitcoin staggers, and if the largest “stable coin” turns out to be as fraudulent as it looks everyone is going to get hit by both a wave of people cashing out into USD/EUR/etc. and a ton of demands to prove that their collateral is as solid as claimed, which the first trend will make a lot harder.