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Not for free, but they very likely exchanged Tether for assets that are not dollars and whose value has since dropped. In some cases we know that those assets w
by skybrian 4y ago
Not for free, but they very likely exchanged Tether for assets that are not dollars and whose value has since dropped. In some cases we know that those assets were very dubious and they had trouble getting the money back.
Banks have losses too. But they raise money by selling stock, which provides a cushion against losses. The stockholders lose money first.
- vuln 4y ago> but they raise money by selling stock How does this work with credit unions? The one I joined I had to “buy a share” for 5$ and keep that minimum of one share (5$) to keep my account active. The credit union is not publicly traded so the shareholders are the account holders.
- skybrian 4y agoGood question. Looks like technically, you are a shareholder and get dividends instead of interest for a "share draft account" [1] which is backed by share insurance. [2] I don't understand how that can work as risk capital. Maybe it just isn't. [1] https://www.investopedia.com/terms/s/share-draft.asp https://www.investopedia.com/terms/s/share-draft.asp [2] https://www.ncua.gov/support-services/share-insurance-fund https://www.ncua.gov/support-services/share-insurance-fund