Ok, interesting thread, but I cannot let this inaccuracy stand — under most rules “six of clubs high” is not a possible poker hand.https://twitter.com/Bitfinexed/status/1479569011348316163 …
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Okay, you short tether. On a tether exchange. Tether blows up, ceo and cfo arrested. Tether exchanges now bankrupt. How do you get paid?
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Like I said — get borrow on tether from a lending desk, move it to an exchange, sell it for USD and withdraw the USD (which you use to collateralise your loan). Your main risk is that they call back the loan, but you can even mitigate that by terming it out.
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If tether goes to 0 and the lending desk blows up, you still have the USD (you might need to go to court to get your collateral back, so it depends on how much you were using as collateral and how exactly the desk blows up)
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