Hacker News
points by Eji1700 5 hours ago | 0 comments
Curious if this finally pops tether. I kinda doubt it, but to my very mild research on the subject I feel like binance was a big part of the equation. Of course so long as the market exists it'll need a stable, and it's got the inertia, so maybe it just won't matter.
[–] gfh687564 5 hours ago
why would it pop tether? if anything, it makes tether more profitable, as they can collect the yield on the treasuries and not have to return the principal dollars which are frozen.

think of it this way - if someone steals your iphone, and you lock it, does apple pop? No, apple sells you another one. locked devices are good for apple because it causes more demand.

[–] throwawaythekey 5 hours ago
Is that what happens here? Tether just pocket the difference?
[–] jwpapi 5 hours ago
No lol
[–] grey-area 4 hours ago
Because Tether is an obvious fraud linked to these other obviously fraudulent companies and predicated on trust in cryptocurrencies.
[–] evdubs 3 hours ago
It's really hard to be an obvious fraud when you've been publishing attestations for years and now you have a "full independent audit" from KPMG for FY 2025, just like Circle/USDC.

https://tether.io/news/tether-completes-the-largest-inaugura...