It's worth one dollar because, at least until now, Tether has sold as many as pe... | Hacker News

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pkulak on Oct 16, 2021 | parent | context | favorite | on: Tether Fined $41M for Lying About Reserves

It's worth one dollar because, at least until now, Tether has sold as many as people will buy for 1 dollar, and bought as many as people will sell for 1 dollar. I get that everyone hates Tether, and I'm not a huge fan myself, but that doesn't mean that high school econ gets thrown out because you're emotional.

orthecreedence on Oct 20, 2021 [–]

> and bought as many as people will sell for 1 dollar

From my understanding, they don't buy them back at all. Has this changed recently?

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