Exposing Tether [video]

Post by mosheroperandi » Sat, Jun 19, 2021, 8:11 AM UTC

raesene9 wrote: post #77

csomar wrote: post #65

Earlier quoted context omitted.

USDC has been growing at a faster pace. Tether has attraction because it was there first. This reminds me when Bitfinex was the exchange that moves Bitcoin price. Now, it's just another exchange. It'll take time but it'll eventually happen. > https://coinmarketcap.com/currencies/usd-coin/

USD Coin has indeed increased in use, although given the supposed liquidity of these two assets, you could wonder why the move doesn't happen far faster than it has... Also there's a very interesting difference between USDC and Tether in terms of volume. based on https://nomics.com/ Tether has a market cap of $62.85B and a 24 hour volume of $70.19B USDC has a market cap of $23.90B and a 24h volume of $1.84B So, for s…

The different volumes could reflect that folks have started to lose trust in Tether vs USDC, and so Tether is used as a big liquidity pool to move between different positions, but no one's endeavoring to hold big Tether positions for longer than necessary. Whereas USDC might be the preferred parking place when folks actually want to spend some time out of market without fully leaving the casino.

I don't know if that's actually true.

Post by loulouxiv » Sat, Jun 19, 2021, 10:44 AM UTC

Clewza313 wrote: post #41

jkhdigital wrote: post #18

Earlier quoted context omitted.

The only part that I wasn’t aware of is that Tether produced a pie chart of their holdings, which made it immediately clear that Tether’s reserves are simply a hedge fund. But this isn’t breaking news; I just hadn’t kept up on it in a while.

A "hedge fund" seems unnecessarily charitable. The majority of their holding is apparently unspecified "commercial paper", which in all likely is near-worthless IOUs from linked entities like Bitfinex.

To be fair it is 45% of their holdings, not a majority. Which is still a very big amount of money, and more than enough to ruin the stability guarantee of USDT

Re: Exposing Tether [video]

Re: Exposing Tether [video]