What Iceland’s Spectacular Banking Collapse Teaches Us About Tether

What Iceland’s Spectacular Banking Collapse Teaches Us About Tether
In 2008 and 2009, I was laser-focused on the global financial crisis. It impacted me directly because collapsing state budgets rugged my financial support just as I was finishing graduate school. Thanks to the shenanigans of low-rent mortgage originators and mercenary Wall Street bros, I wound up balancing writing my dissertation with flipping pancakes at a local greasy spoon.But despite the personal stakes, the immense ramifications of the collapse were impossible to entirely track. One story that felt like little more than a footnote at the time was the collapse of the banking system in the European country of Iceland.…