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Clients have successfully redeemed 10% of outstanding USDT, which happens to be the fractional reserve requirement for major US banks. Evidence they are at lea
by smoovb 4y ago
Clients have successfully redeemed 10% of outstanding USDT, which happens to be the fractional reserve requirement for major US banks. Evidence they are at least as liquid as any US bank is required to be.
https://www.investopedia.com/terms/f/fractionalreservebanking.asp https://www.investopedia.com/terms/f/fractionalreservebankin...
- ceejayoz 4y agoBernie Madoff was able to fulfill withdrawals for years, until the house of cards collapsed. Being able to redeem 10% isn't something to brag about. Bank depositors have the FDIC as a backstop, too.
- smoovb 4y agoTether is nothing like Bernie Madoff (not an investment or path to riches) and everything like a state issuing currency. As long as the core constituents have a stake in it (the elite exchanges), then it will go on with out issue. The risk to Tether is not default, a but an attack.