cryptobanking

"Its not a dollar, it's a liability of Circle and Tether."

I kind of disagree because this fails the test of, "compared to what"?

All dollars are credit liabilities of *someone*. That's how balance sheet accounting works. Sure certain entities have FDIC protection but this doesn't make them less of a liability because you have insurance.

"Its not a dollar, it's a liability of Circle and Tether."

I kind of disagree because this fails the test of, "compared to what"?

All dollars are credit liabilities of *someone*. That's how balance sheet accounting works. Sure certain entities have FDIC protection but this doesn't make them less of a liability because you have insurance.

https://youtu.be/7VhaMOWe7ng?si=kIHrgt6BBZCQET5X