This is right - Tether buying back their USDT means that they get to retire 1 USDT for 0.95c of their backing reserves, turning the remaining 0.05c into profit

This is right - Tether buying back their USDT means that they get to retire 1 USDT for 0.95c of their backing reserves, turning the remaining 0.05c into profit which they can then invest wherever they want.