Are exchanges obligated to conduct a trade? Ie. Are they like a bank, holding yo... | Hacker News

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		Waterluvian on Nov 10, 2022 \| parent \| context \| favorite \| on: Tether USDT is depegging from dollar Are exchanges obligated to conduct a trade? Ie. Are they like a bank, holding your deposit? Or are they like a third party FX booth at an airport? If the latter, how is this not the most perilous currency to hold?

lolc on Nov 10, 2022 [–]

Thether is not Dollar. Nobody is obliged to give you Dollars for Thether. Until you make the deal.

Banks are not obliged to exhange currencies for you either, by the way. Many do, at a rate favorable to them.

Waterluvian on Nov 10, 2022 | [–]

Right. So it’s definitely an “exchange” and not a “we’re giving you your deposits back.”

Thanks.

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