Tether Required Recapitalization In May 2022 | Kalzumeus Software

I was lucky enough (researched enough?) to avoid Tether. I did look at it and the Luna ecosystem for a bit, but there wasn't enough utility for me to play with.

A couple of things:

1. Tether is an algorithmic stablecoin. There are multiple types of stablecoins. This type seems to be fundamentally flawed, or at least the worst performing.
2. It seems like a terrible idea to back one crypto asset with another. The assets are exposed to the same risks and at least similar market issues.
3. It is incredibly impressive to me that Bitcoin didn’t get more hammered with Tether's aggressive selling from reserves in an attempt to hold the peg.

Stay safe out there, particularly if you are going to experiment with crypto. 🛟