[sbierwagen]

> Any exchange with USDT-denominated crypto prices will see those prices explode, as there will be few sellers of crypto for a soon-to-be-worthless asset.

This will also blow up arbitrage bots that move tokens between exchanges, as they quickly and automatically pour coins into a defaulted exchange. A fun “picking up pennies in front of a steamroller” risk in what’s supposed to be a risk free trade.