[vizzier]

It sounds a lot like this https://en.wikipedia.org/wiki/Black_Wednesday basically use short positions to trade against the real value of the currency while selling at the "pegged" price pocket the difference. If a G7 currency can't guard against this type of attack then can a crypto service expect to compete?

[anon291]

At the end of the day the only thing that really matters for currency valuation is who sits on the right end of the barrel of very large guns.

[bobthepanda]

Didn't seem to help the UK much during Black Wednesday.

[anon291]

UK clearly doesn't have large enough guns. /s

I joke, but realistically, the UK has not gone the way of Terraform of FTX, so ...