> Does that make traditional bank a huge scam? That's exactly why traditional banks are subject to heavy oversight and regulations, and deposits are protected

> Does that make traditional bank a huge scam? That's exactly why traditional banks are subject to heavy oversight and regulations, and deposits are protected by govt guarantees. Tether on the other hand is operating completely in the dark and has been involved in a lot of shady activity that does nothing but undermine trust in their ability to do treasury operations in a responsible manner.