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Even if Tether is 90% backed (a wild supposition) - if there is a run on the bank - they don't have liquid assets, and they'd have to cash out at WAY less than
by onlyrealcuzzo 4y ago
Even if Tether is 90% backed (a wild supposition) - if there is a run on the bank - they don't have liquid assets, and they'd have to cash out at WAY less than 90%.
This is why banks can't be backed by 100% MBSes.
Tether will implode. It's just a matter of time.