On: Tether Withdrawals Top $10B

[X6S1x6Okd1st]

I wouldn't be surprised if congestion is extremely high on ETH if USDT collapses, but I'd be shocked if the chain started missing blocks.

Do you think that USDC would depeg as well?

[lmm → X6S1x6Okd1st]

If the bid and offer are like $2 - $.50, do you consider that a "depeg" or not? I think liquidity will disappear, transaction fees will go to the moon, and there won't really be a meaningful "price" because trades won't be happening.