Watch Evergrande. Their bonds are suspending trading on Friday.
There is $300 billion in debt at risk here. The company already missed one bond payment. Suspension is not a good sign. While default is the obvious conclusion, it could also mean reorg of the debt.
The Chinese government is already getting involved. This situation could spin out of control those.
Keep an eye on it.
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The fallout from this, if it happens, could hit the crypto world.
Do you believe them?
It was always questionable what Tether really held. Now some are speculating they might have exposure to Evergrande.
That would be a big hit to the industry if that is the case.
I do know for a fact that HBD has no exposure to Evergrande.
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Well...we won't know for sure and I doubt they would ever come clean if they did.
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Yes, like I said earlier, I don't trust any of these stablecoins. It's one of the reasons I'm so hopeful about Hive Backed Dollars. If they can get it stable and increase the liquidity, it could really be a major coup for the Hive blockchain.
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No idea but I'm glad that my main stablecoin is HBD in that case
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Biggest economic story of the year developing right here.
Watch this space.
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Yea this is really bad and all of the debt isn't only on China's balance sheet. You can bet the fallout will affect the entire world and now people will have to consider whether or not those corporate bonds are worth the risk.
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Oh wow
300 B in debt! That's crazy! I'm glad I'm not involved in that project
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You might be indirectly exposed to it through banks, stocks and investment funds.
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