There are a few different mechanisms underpinning commonly used stablecoins. Some of them may not perish in a fire.| Bits about Money
A review of Zeke Faux's Number Go Up, with some bonus commentary on financial journalism and Tether specifically.| Bits about Money
An ELI5 Explainer About Where to Look When The Depegging Begins| fakemoneynews.substack.com
I described Tether in 2019 as “the internal accounting system for the largest fraud since Madoff.” This remains true. Earlier in 2022, in the wake of the Luna/USDT collapse and shockwaves hitting the industry, I wrote that their May 2022 attestation showed that, even if one believes the contents of the attestation, they again went insolvent and required recapitalization.| www.kalzumeus.com