It's possible for something like Tether to be resilient against a run, if the coin issuer redeems at ~0.999 to 1. The problem is not one of theoretical possibi

It's possible for something like Tether to be resilient against a run, if the coin issuer redeems at ~0.999 to 1. The problem is not one of theoretical possibility, the problem is one of perverse incentives. Tether's operators have no reason not to go to Vegas and put all that money on a coin flip. Heads they win, tails their 'clients' lose. They'd be idiots to not do something like that.