There are some key differences in stablecoins. Learn about it, mange your risks.https://www.paxos.com/a-regulated-stablecoin-means-having-a-regulator/ …
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@paoloardoino I guess the "Reserve" point in the#USDT#Tether
is a very very weak point, it will kill the USDT.
Supposed 1 USDT begged by 1$, but actually 1 USDT pegged by 0.03$.
Any comment?
Yes. Tether is 100% backed by reserves so it will hold the peg with the dollar. As you can see other stablecoins are doing the same.
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Unless something happens to those reserves, yes? https://finance.yahoo.com/news/evergrande-worsening-crisis-piles-pressure-020258927.html …
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Paolo, I don't mean to push it but as per this Pie-chart, the
#USDT#Tether reserve of cash (USD) is only 3.87% from the 75.85%. Where the remainder is commercial-papers, loans, & bonds.
Which imposes a real risk.
Kindly, any comment?pic.twitter.com/OtC5GdyEOv
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Yes. Tether may be 100% backed, but by what? Your attestation shows that almost 50% of your reserves are commercial paper the grade of which we don't know. Furthermore, it is most likely illiquid meaning that in the event of mass redemption, customers won't be able to redeem 1:1.
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