You misunderstood. I wasn’t saying money market funds are invulnerable. Failure of the Reserve Primary Fund caused the worst of the Great Financial Crisis. I w

You misunderstood. I wasn’t saying money market funds are invulnerable. Failure of the Reserve Primary Fund caused the worst of the Great Financial Crisis. I was saying 100% backing is the standard they’re regulated too and they published their backing in a very detailed way that anyone can check. Tether doesn’t do this. They refuse to disclose their counterparties and they defined their own accounting standards where junk debt is valued at redemption value rather than market value