Tether, the cryptocurrency which is theoretically backed 1:1 by USD held in a bank account and available on demand, is currently in the early stages of a bank run.
-
-
That plus the *wild* volatility I expect around an extinction event for Bitcoin means heads I’m liquidated tails my upside is capped far below the notional value of the position.
-
Given that BTC had a non-zero value prior to Tether’s existence what makes you think it would actually go to zero as opposed to a low value like $400 or something? Was not aware of those restrictions on the CME contract.
End of conversation
New conversation -
-
-
Can you cite a source for the claim they won’t allow settlement at zero? This FAQ indicates nothing of the sort. Circuit breakers, extra margin req, all normal futures stuff. https://www.cmegroup.com/education/bitcoin/cme-bitcoin-futures-frequently-asked-questions.html …
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.