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If you buy/sell $100k USD and pay the relevant transaction fees; and if tether doesnt run of out capital just as you are doing it. Which, at <1$/$, tether shou
by mjburgess 4y ago
If you buy/sell $100k USD and pay the relevant transaction fees; and if tether doesnt run of out capital just as you are doing it.
Which, at <1$/$, tether should now be bankrupt. It's presently advertising free money: just buy at <1 and sell back at 1. If it were actually possible to do that, tether would be out of capital tomorrow.
- anonymoushn 4y agoThat's not really true. The amount of redemptions needed to restore the peg is capped at the size of their reserves, and in reality is probably a lot less. I think a lot of commenters get confused about why big crypto firms don't defend the peg more aggressively. The reason is that defending the peg less aggressively is more profitable.