What Saved Crypto Stablecoin Tether From Crashing? It’s Ironic

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It was a wild week in the world of cryptocurrency! Bitcoin, Ethereum, and the other “big names” got hit pretty hard, but they were nothing compared to what happened in the subset of the crypto world of stablecoins. To keep it simple, stablecoins are supposed to behave as a bank account where you can store your money. Over the past few days, the third largest of these coins has absolutely crashed and slaughtered those who were invested into the coin. The largest stablecoin in the world, Tether, was put to the ultimate test as it faced redemptions of $3 billion dollars in a matter of days. To give credit where credit is due, tether was able to absorb these redemptions and continue to behave as its supposed to. Why did one coin crash and tether survive? For your cryptocurrency fanatics, I think you’ll be surprised and hopefully have a bit more of an open mind in regards to your investing strategy. In no way am I trying to bash cryptocurrency; however, I am trying to point out some potential blindspots in your “all in” crypto investing logic. Let’s talk some, funny, irony and how it shows that physical assets such as “cash” still hold a huge place in the world.

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