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21 sats \ 0 replies \ @2big2fail 10 Nov 2022
tether exists with the states blessing. that is fine as long as you know what you are buying and using
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101 sats \ 2 replies \ @siggy47 10 Nov 2022
USDT lost its peg. If stablecoins are a casualty of this mess, things could get very interesting. It will take a while to sort out, but this may benefit bitcoin as decentralization and freedom from censorship are more highly valued.
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111 sats \ 1 reply \ @cryptocoin 10 Nov 2022
[Update:
Oh, this from today might be something different going on than the CoinGecko issue.
https://coinmarketcap.com/currencies/tether ]
Tether has not "lost its peg". It is on exchanges at $0.999 -- at the edge of the level that arbitrage is economic (because of trading fees paid to arbitrage). And Tether has not declined to pay out any USDT $1 -> USD $1 redemption request (other than the poor fucks who had USDT at FTX affected by this freeze).
If you are referring to the data issue at CoinGecko, ... that was a problem with CoinGecko not accurately tracking the exchange rate at certain exchanges. Addressed here:
FTX, Black Swans, and Tether's Continued Stability
#91796
https://tether.to/en/ftx-black-swans-and-tethers-continued-stability
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0 sats \ 0 replies \ @cryptocoin 10 Nov 2022
I guess next time I should check the news for the current day's events before making an assumption about a dynamic topic.
Anyway, today's issue has passed -- back to trading at the peg. I suspect there were some stops and levered trades (especially at Kraken)hat were negatively impacted.
And I'm not suggesting it is wise to hold funds in USDTs. But for my purposes, transferring funds from one exchange to the next, I'm comfortable with using Tether -- even if there is some movement against the peg, as I don't hold it for more than a short period of time.
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1 sat \ 0 replies \ @steepdawn974 10 Nov 2022
There is no one USDT; there exist different USDT tokens on multiple chains, and the "freezing" has to be subject to the rules of the chain.
USDt on ETH for instance is relatively easily frozen, since it's all one contract.
My understanding is, that USDt on Liquid on the other hand, can't be frozen because it has confidential assets and it is not visible to even the federation members whether a certain address holds L-USDt, or some other Liquid asset.
Even if it could still be somehow found out which addresses holds L-USDt (e.g. data leak, ChainAnal etc) you'd need 11-of-15 functionaries to phsically upgrade their Nodes/HSMs with some sort of blacklist.
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0 sats \ 0 replies \ @selfish_gene 10 Nov 2022
как США может быть мировая лидером? ни как... это скам государство.. точнее органы управления... очень они глупы делая так и запрещаяя видеть продолжение. что бы было дальше? разве не интересно?
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0 sats \ 1 reply \ @Wil 10 Nov 2022
So where do USDT's come from?
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1 sat \ 0 replies \ @steepdawn974 10 Nov 2022
From the Tether treasury: tether.to
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