/biz/ - Business & Finance

>>49606490
Tether, like Celsius, is roughly speaking a crypto bank: It is a stablecoin project that takes people’s dollars and invests them in dollar-denominated assets. Unlike a regular bank, Tether has no capital requirements: Its assets (commercial paper, etc.) more or less exactly match its liabilities (stablecoins issued), and if the assets lose a bit of value then the loss will fall on its depositors.

>>18330052
This. Earnings are shit, Consumer confidence is practically non-existent, the entire service industry is on life-support, tourism is kill, foodservice is kill unless you have a drive-thru, energy is pumping oil with basically no where to store and no customers, landlords are going unpaid, agriculture and food packaging is about the only thriving industry left aside from healthcare, which is a warzone or preparing to become one.

Even IF Dolan manages to cut a deal with the Russians and Cameljocks, they'll only agree to a 50% cut in American production to match their own. Which STILL creates unemployment out the ass, and unemployment is already at a disastrous point.