> At this rate, in a few months we'll find out how much backing Tether really has, because it is being paid out.

As someone who's been watching Tether since it's inception, I say don't count on it. They've managed to continuously escape the consequences of running a dangerous fractional reserve system.

The main beneficiaries of this system are now companies with incredibly deep pockets who aren't afraid of deploying that capital to keep the system afloat.

I used to think Tether would fall apart with a long enough bear market. Now I think it will stay afloat until it's captured by the US government. Or until it's acquired by a U.S. company that's willing to turn over customer trade data to a "5 eyes" nation in exchange for their help and leniency in restructuring it so it can continue to operate with the government's blessing.