Bitcoin's price "in USD" makes more sense as a price "in USDT". It's completely unsurprising that Bitcoin went up relative to USDT after this news.
The big question is when the peg of 1 USDT ~= 1 USD (or USDC) is going to break. Tether is going to do everything they can to maintain that peg as long as possible.
> The big question is when the peg of 1 USDT ~= 1 USD (or USDC) is going to break. Tether is going to do everything they can to maintain that peg as long as possible.
Yuup. Assuming USDT is a fraud, Tether likely makes very good money off of it, and is hence HEAVILY incentivized to keep it running as long as possible. I'd be very curious to hear theories as to what might cause it to collapse.
But those companies would only complain if Tether stopped redemptions, which presumably would only occur if they ran out of cash. You'd need some other outside impetus to trigger it all.
The big question is when the peg of 1 USDT ~= 1 USD (or USDC) is going to break. Tether is going to do everything they can to maintain that peg as long as possible.