But more importantly, talk is cheap. If you really believe in what you are saying, there are plenty of USDT futures available in crypto markets. Go ahead and short - if you are right, you'll win big, and the downside is fairly limited.
But more importantly, talk is cheap. If you really believe in what you are saying, there are plenty of USDT futures available in crypto markets. Go ahead and short - if you are right, you'll win big, and the downside is fairly limited.
They've been resisting being audited. I wonder why.
https://blockworks.co/tether-pushes-back-timeline-on-audit-r...
Since it's not going to $1.95 per Tether, the downside is just the cost of time. The poster can short it and blog about their journey while providing their pubkey to prove it.
Mind blown ?
Thank God, I guess, that they're neighbours in Nassau.
its 40% of Tether issued on Tron
and you have to understand that Alameda was one of the licensced brokers of USDT. Institutions could mint USDT from Tether via Alameda by using dollars. This is not a loan. Its a 1:1 conversion.
This system is as pure and honest as the virgin mary and there's no way USDT could have been given against shaky IOUs.
0: Buy 10000 USDC with $10000
1: Deposit 10000 USDC on AAVE
2: Borrow 5000 USDT
3: Sell 5000 USDT for 5000 USDC
4: Wait for USDT to drop to $0.5
5: Buy 5000 USDT with 2500 USDC
6: Repay 5000 USDT and get back 10000 USDC
7: Profit: $2500
Note you do get interest on your deposit so that helps offset it a bit.
If USDC drops (or if USDT rises, for that matter), you might get liquidated.