Yes, but the gap between borrowing and deposits is massive. That gap is not closing anytime soon.
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For me, it isn’t “devil may care” as much as it is accepting that everything is “up in the air” across the financial spectrum. There are not many safe havens and, in the teeth of a likely recession, risk capital is likely to dry up.
It would be unwise for LFG to commit to on-going subsidy of an unsustainable situation.
We all have the option of hitting that withdraw button right now… that would disengaging.
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UST is trading at 0.9968 USDT, 0.32% below peg, on Binance right now.
Looks like people are already cashing out.
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OK. These are nervous times but this is what has to happen.
The ecosystem cannot support interest payments on 13.4bn UST. I doubt the peg in is in imminent danger, though.
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Yep, exactly.
saying ust is trading x y or z on a b c exchange isnt relative as long as its able to arb back to oracle price it working as designed.
Try redeeming USDT for fiat directly from teather, cant be done. how is that maintaining a peg?