I think the most shocking thing in that interview is that Tether's backing is mostly Chinese bonds.
China falls, USDC pin against the dollar fails and Tether becomes worthless.
Not a problem for most retail pedes... we generally don't do Tether. Where it is a problem is for major investment firms and big 5 banks. They are using Tether as an intermediary to wash crypto transactions and as collateral to leverage in other securities investments, with 10x or more leverage.
I can't wait until Marge calls. It'll be biblical.
I think the most shocking thing in that interview is that Tether's backing is mostly Chinese bonds.
China falls, USDC pin against the dollar fails and Tether becomes worthless. Not a problem for most retail pedes... we generally don't do Tether. Where it is a problem is for major investment firms and big 5 banks. They are using Tether as an intermediary to wash crypto transactions and as collateral to leverage in other securities investments, with 10x or more leverage.
I can't wait until Marge calls. It'll be biblical.
Totally agree! Watch and grab Bitcoin!
Once it drops back to the 30K range, yep.