> USDT is only liquid BECAUSE there is no redemption mechanism This isn't necessarily true, as in that event, although possible, wouldn't necessarily have happ

> USDT is only liquid BECAUSE there is no redemption mechanism This isn't necessarily true, as in that event, although possible, wouldn't necessarily have happened. Much like banks with limited liquidity can survive for a long time. To your point, it's confusing how they managed to thrive after admitting that they were lying about being backed 1:1. Edit: I haven't been paying too much attention to tether in ages. It looks like they're now offering redemption of $100k+ at a minimum of $1000 a pop?