alt Hacker NewsI think the idea is that they freeze them indefinitely, and then they no longer count against the centralised reserves, since they can never cash out. Now they can mint the equivalent amount back to Binance and remain solvent.
I think the idea is that they freeze them indefinitely, and then they no longer count against the centralised reserves, since they can never cash out. Now they can mint the equivalent amount back to Binance and remain solvent.
And how do they ‘mint’ 2 billion without affecting the price of tether and without finding 2 billion to back it?
If they can mint with no impact doesn’t that mean they can just print money?