Anyone Seen Tether’s Billions?
bloomberg.com
Anyone Seen Tether’s Billions?
1–10 of 492 posts
Re: Anyone Seen Tether’s Billions?
#2The article talks about Tether's issued coins making it as large as one of the top 50 US banks (if it were a bank).
How many banks does the US have?
Re: Anyone Seen Tether’s Billions?
#3The article talks about Tether's issued coins making it as large as one of the top 50 US banks (if it were a bank). How many banks does the US have?
The FDIC lists a little under 5000 (https://www.fdic.gov/analysis/quarterly-banking-profile/stat...).
Re: Anyone Seen Tether’s Billions?
#4Re: Anyone Seen Tether’s Billions?
#5The article talks about Tether's issued coins making it as large as one of the top 50 US banks (if it were a bank). How many banks does the US have?
Even more damning is this:
> about $30 billion of its dollar holdings are invested in commercial paper—short-term loans to corporations. That would make Tether the seventh-largest holder of such debt, right up there with Charles Schwab and Vanguard Group.
"Would", because nobody in those markets has seen them.
Re: Anyone Seen Tether’s Billions?
#6the ship has sailed, the entire crypto market will eventually be bailed out...what's the point in wasting money chasing a paper trail around the world? we let a beanie-baby asset get big enough to kneecap markets, so now we have to pay
everyone knows tether is bullshit, it hasn't slowed down crypto speculation. and how is tether less bullshit than ethereum? both of them are pure sentiment
some fool with two dollars to his name is cheering on "build back better" which will eventually be the same money used to bail out crypto
Re: Anyone Seen Tether’s Billions?
#7If this goes on for a few more years, with broader investment from traditional investors (ETF), when Tether collapse I half-suspect that the cryptocurrency markets will bring the NYSE down with it in the fall as people sell to cover losses
Re: Anyone Seen Tether’s Billions?
#8If this goes on for a few more years, with broader investment from traditional investors (ETF), when Tether collapse I half-suspect that the cryptocurrency markets will bring the NYSE down with it in the fall as people sell to cover losses
The last time Bitwise tried to list an ETF, they revealed to the SEC that 95% of all bitcoin trading volume was fake. If the SEC permits a real BTC ETF that would represent a serious failure on their part, IMO, and I agree the potential for Tether contagion would increase materially. [1]
[edit] this financial cancer can’t get excised quickly enough. The longer we wait the more will get hurt.
[1] https://cointelegraph.com/news/bitwise-tells-us-sec-that-95-...
Re: Anyone Seen Tether’s Billions?
#9Are there any legitimate stable coins?
Re: Anyone Seen Tether’s Billions?
#10If this goes on for a few more years, with broader investment from traditional investors (ETF), when Tether collapse I half-suspect that the cryptocurrency markets will bring the NYSE down with it in the fall as people sell to cover losses
The federal government should have shut down Tether years ago. At this point, Tether growing its tendrils into the real economy and becoming a systemic risk almost feels like an inevitability. Madoff 2.0, but even more obviously fraudulent.