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RE: Tether market cap goes below $2 billion for first time since February
No surprise that to some extent Bitfinex buy their own currency.
Their choice is to buy it back or to default on it (their own debt).
Some people started to realize that it is worse fractional reserve banking than in the international system that they tried to hedge against.
How is it worse? They seeem to have the funds to back it up...
At a discounted rate.
They took a loan at a negative interest.
Their clients thought that they parked their dollars ready to capitalize on an opportunity.
Parking rent turned to be higher than merely trading fees.
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Missed vote on:
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Later I paid again for the same post after I found it not voted.
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