The latter. It appears for now that financial conditions have stabilized (lower vol, credit spreads falling) as we approach a period where markets are signalling a pivot (rate cuts) a few quarters out. If financial conditions fail to deteriorate before then, it's likely Tether will see inflows as financial conditions loosen.
Exactly. There is no political will or means to take it down. Only a severe credit crunch resulting in a internal crisis at Tether (or panic within Tether’s circle) can bring it down.
The latter. It appears for now that financial conditions have stabilized (lower vol, credit spreads falling) as we approach a period where markets are signalling a pivot (rate cuts) a few quarters out. If financial conditions fail to deteriorate before then, it's likely Tether will see inflows as financial conditions loosen.
On reflection, a few quarters is not a thin window, relatively.
Exactly. There is no political will or means to take it down. Only a severe credit crunch resulting in a internal crisis at Tether (or panic within Tether’s circle) can bring it down.