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Can you explain how they stopped a death spiral to zero?
by acchow 4y ago
Can you explain how they stopped a death spiral to zero?
- stuffbyspencer 4y agoI think the tool they used came from their capital reserves. IIRC they had about a billion dollars worth of BTC, and they have money from other sources as well. So they got liquidity to buy up all the sellers of UST on exchanges and stopped it from going to zero. If you have enough capital to soak up the supply, then you're good.
- skinnymuch 4y agoWould Binance and maybe other exchanges not allowing trading below $0.70 help a ton and possibly be the biggest factor?