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Not to discount the hilarious news but DEI is pretty small beer, a market cap of about $65M before the collapse. https://www.bloomberg.com/news/articles/2022-05
by NelsonMinar 4y ago
Not to discount the hilarious news but DEI is pretty small beer, a market cap of about $65M before the collapse. https://www.bloomberg.com/news/articles/2022-05-16/another-stablecoin-loses-its-peg-as-algorithm-fails-to-keep-pace https://www.bloomberg.com/news/articles/2022-05-16/another-s...
Tether is the big stablecoin, about $76B now (down from $83B). They've consistently lied about how much real capitalization they have backing it. When it collapses it will probably bring most of the cryptocurrency market with them.
- Animats 4y agoYes, Tether's the big one. Tether broke its peg last week, but recovered. That was a shock. The risk for Tether is that, while people may not be dumping Tether, they're not likely to put new money into it. A slow outflow will eventually drain the partial reserves.