I lost you when you jumped from talking about decentralized exchanges "minting" to centralized exchanges and pretended they were the same thing. For your info

I lost you when you jumped from talking about decentralized exchanges "minting" to centralized exchanges and pretended they were the same thing. For your info an example of a decentralized exchange is "Uniswap" which operates onchain and does not (in most circumstances) custody your assets or even have humans in the loop. A centralised exchange is Binance, which largely operates fully off chain and custodies your assets. Lastly I dont think anyone is pretending the space is not without risks - its a "caveat emptor" environment in its purest form. USDT isnt the only game in town by a mile & congruently Jump/Jane Street/Hudson River/other U.S. regulated actors have no problem acting as a credit counterparty with USDT so due diligence must check out to some degree of satisfaction (indeed I hold my own reservations).