I wanted to come back to this, and make it explicit how the US program may be running. If there is a run on Tether, the US government will step in behind the s

I wanted to come back to this, and make it explicit how the US program may be running. If there is a run on Tether, the US government will step in behind the scenes and buy Tether at a discount. This gives Tether a backstop. It also gives the US government an immediate paper profit (buy Tether for less than a dollar, get a dollar of Tether), which can be used to buy Bitcoin. The sight of Tether successfully redeeming currency and Bitcoin going up will trigger a desire to jump back in, and reverse the cash flow. Allowing the US government to withdraw as much money as was actually put in. This results in a budget neutral investment in Bitcoin. We put $X into Tether, we got out $X. We also got y% of that as Bitcoin. Exactly as the executive order demands that the government should do.