Terra / Luna had $3b in reserves, either used to defend the peg, and/or laundered elsewhere (Do Kwon claims they only have $9m left, rest went to defend peg, with no verification. "we're checking if we can show we made these trades with a market maker." I'll let you be the judge if you think $3b got blasted into upward support of UST). The result was the same; a worthless stablecoin. Tether is no different here, just larger reserves. They will be depleted trying to hold the peg until they can't and/or they will be ran off with.
Terra / Luna had $3b in reserves, either used to defend the peg, and/or laundered elsewhere (Do Kwon claims they only have $9m left, rest went to defend peg, with no verification. "we're checking if we can show we made these trades with a market maker." I'll let you be the judge if you think $3b got blasted into upward support of UST). The result was the same; a worthless stablecoin. Tether is no different here, just larger reserves. They will be depleted trying to hold the peg until they can't and/or they will be ran off with.