It may be baffling that Tether hasn't collapsed yet. But consider the drawn-out drama of the Mt Gox collapse. It took weeks for Mt Gox to unwind. In the time l

It may be baffling that Tether hasn't collapsed yet. But consider the drawn-out drama of the Mt Gox collapse. It took weeks for Mt Gox to unwind. In the time leading up to the finale, many people (who should have known better) insisted that the exchange was secure and fully capitalized. For example, this guy: https://www.youtube.com/watch?v=UP1YsMlrfF0 https://www.youtube.com/watch?v=UP1YsMlrfF0 When incredible spreads started appearing between Gox and competitors, the gullible asked "How can I arbitrage this?" rather than "Where are the exits?" Then they became irate at their inability to withdraw the funds they deposited to make a quick buck. There were others who simply refused to believe the facts staring them in the face. I expect the same to happen here. Settle in, this is going to take awhile to unwind.