> If bitfinex doesn't have dollars to give for usdt, all they have to do is give an equivalent amount of bitcoin This only works as long as their bitcoin holdi

> If bitfinex doesn't have dollars to give for usdt, all they have to do is give an equivalent amount of bitcoin This only works as long as their bitcoin holdings don't drop in value below the amount of tether they've printed. Backing USDT this way is incredibly unsafe.