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What’s the concern here? Seems like Tether actually did have the money to fulfill the withdrawals, so this seems like a nothingburger.
by ryanSrich 4y ago
What’s the concern here? Seems like Tether actually did have the money to fulfill the withdrawals, so this seems like a nothingburger.
- red_phone 4y agoThe bigger concern is whether there will be funds to process the next $10B of withdrawals.
- boc 4y agoWell they had the first $10B, but Lehman also probably had the first $10B when things moved south. It's the final $10B that really matters here. They may have burned their real currency reserves first to avoid really sparking a panic, and are just standing naked hoping the crypto meltdown subsides before they have to start selling their less liquid/valuable reserves.