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I read about this last week [1] and am still quite perplexed about Tether and its a backing. If you look at the redemption pattern you can see large movements.
by jsemrau 4y ago
I read about this last week [1] and am still quite perplexed about Tether and its a backing. If you look at the redemption pattern you can see large movements. I.e. a whale must be withdrawing funds. This really reminds me of 2008.
[1] https://app.finclout.io/t/kVr06N0 https://app.finclout.io/t/kVr06N0
- onlyrealcuzzo 4y agoI would imagine exchanges hold a lot of Tether. All of them should be trying to limit their exposure as much as possible as fast as possible.
- smoovb 4y agoExchanges like Binance, FTX and Bitfinex are all Tether supporters, and will not let if fail - or they go down too. Since they themselves hold a larger portion of it, they can in a sense, control if it fails or not.