Evergrande Just Took A Huge Blow, Court Orders Liquidation. This Could Be A Big Financial Domino.
(media.greatawakening.win)
You're viewing a single comment thread. View all comments, or full comment thread.
Comments (42)
sorted by:
There was a crypto, I can’t think of its name, but it was backed heavily by Evergrande paper. The crypto was tied to bitcoin. Hmm
Tether?
Yeah u/doug1956, Tether supposedly parks their funds in Evergrande due to their high returns.
Tether is used to pump up the cryptos and there is belief that there is way more Tether printed than their funds.
When the underlying funds lose value due to a Evergrande collapse, the expectation is that the emperor is left standing with no clothes.
I remember reading this failure could decimate crypto’s because of tether’s balance sheet. I think they said at the time about 1/3 of their assets were tied to Evergrande paper.
Any sauce on this? Sounds quite dasting.
Afaik this was the first time people started connecting Tether and Evergrande.
Yes! That’s the one.