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FTX, Black Swans, and Tether's Continued Stabilitytether.to/en/ftx-black-swans-and-tethers-continued-stability
31 sats \ 3 comments \ @cryptocoin 9 Nov 2022 bitcoin
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26 sats \ 0 replies \ @rbckman 9 Nov 2022
whatever Tether is fuck it its not Bitcoin
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0 sats \ 0 replies \ @cryptocoin OP 9 Nov 2022
This morning, due to a data issue that stemmed from CoinGecko’s API connection with a select few exchanges, the Tether peg appeared to have dropped below $1. Tether did not depeg. The price discrepancy of USD₮ existed there and there alone while on Binance, Bitfinex, and Coinbase it was trading within 10bps from parity. The data issue has already been resolved by the Coingecko team.
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0 sats \ 0 replies \ @cryptocoin OP 10 Nov 2022
Oh ,... so even though Tether redemptions are continuing without issue, ... that doesn't mean the exchange rate at the exchanges won't fluctuate. Today (Thursday, Nov 10th), USDt was trading off the peg by ~6% on Kraken, for example.
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