Blurt!Commonplace Book

Bloomberg

“Tether’s Chinese investments and crypto-backed loans are potentially significant. … [I]f those loans fail, even a small percentage of them, one Tether would become worth less than $1. Any investors holding Tethers would then have an incentive to redeem them; if others did it first, the money could dry up. The bank run would be on.”

posted Aug. 14, 2022, 8:00pm