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yesterday I threw out an off the cuff question to @bitfinexed
How much of the redeemed #tether was used to recover and maintain its peg?
The obvious answer is whatever they had to.
I've spent a big chunk of today crunching data to see what answers I could come up with.
How much of the redeemed #tether was used to recover and maintain its peg?
The obvious answer is whatever they had to.
I've spent a big chunk of today crunching data to see what answers I could come up with.
Last night I scratched out my hypothesis - to maintain its peg...#tether would need to tap its own cash...can only do that via redemptions and the 'tell' will be burning the tokens like they never existed.
Basis for this thinking is pretty simple. That's what they do when they need cash and lots of it. Remember back in 2018 #novogratz was swooning over the orderly redemption of $700m by #tether.
