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“bought at what discount” :sneaky: if paid at all, perhaps IOU

If Tether fails, and it should, the above scenario is exactly what would have happen. The good thing, is that from the ashes of current BS a real Crypto market will be born, and it will be great in the long run for the space.

exactly. BTC existed before USDT, but market cap was tiny. It took fake money, aka stable coins, to create 1 trillion market cap. Let’s see what the real value is without fake money

more like 80-90 percent in commercial paper according to themselves. They disclosed it after NY AG law suit.

and you certain if this why?

exactly, same would have happened to Buffett had he not forced the rule change, where mark to marked did not apply anyone. Any one of us would be wiped out completely.

I am sure places like binance or kucoin have product for this. But the question will they pay up??? My bet, they would suspend withdrawal of huge windfall.

The sooner this fraud collapses the better it will be for overall crypto market in the long term.

Not cynical at all. I easily change my mind when facts change. This is why I algo trade. Software is programmed to adopt to market changes. The main thing I learned over the years to not stick to any belief in the market. The moment facts change, you must change with them or it will cost you...

awesome :)

They already disclosed that they have little USD about 3% plus another 3-4% in treasuries, the rest is what they call commercial paper. This is where it gets interesting, when they had 60 billion market cap (they now 80 billion), Bloomberg interviewed every bank that deals with commercial paper...

Just picked up more luna, purely for entertainment reasons. Very little chance it will survive.

not this time around. Like I said before many have never seen real tightening for a very long time.

there is no real counter party like CME where you know you will collect. Binance, Kucoin all can close shop if they have to pay up 10s of billions.

agree not far fetched.

Picked up some Luna on Kucoin for a cent. Already lost 90% it is now 1/10 of a penny. Oh well :sneaky:

For sure, I real pain has not happened yet. TESLA under 100 is real pain. The funny thing even under 100 it will be one of the most valued car companies in the world.

we seeing end of free money and real tightening that we have not seen in almost 20 years. Most likely it will get a lot uglier.

Accumulation has began. Picked up my initial ETH batch. Next level I am watching is 1,500 and so forth

Luna is canary in coal mine, let's see how things will play out this year.