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by projektfu 1484 days ago
You could purchase millions in Bitcoin and other crypto, then sell it to a tether-based exchange for USDT. Then demand it as a withdrawal to USD. Rinse, repeat.

No idea how that would end up panning out but you don't necessarily have to accept new tether in exchange for your USD.
1 comments
jcranmer 1484 days ago
The Bitcoin is still an asset they could sell for USD at a similar rate for what you acquired it for.
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projektfu 1484 days ago
Ah, but tether foundation would have to buy it, but more likely a third party buys it with already existing tether.

They would have to liquidate a lot of Bitcoin into USD at once to satisfy a big request for withdrawal, which is a problem since tether's raison d'etre is to provide that liquidity because the dollars weren't there.

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