Well actually, no. The Tether T&C says that they can basically do whatever they want with your wallet, all disputes have to be resolved via arbitration, and you waive your right to a jury trial.

Sure, you _can_ still sue them anyway and maybe get around the T&C, but you can sue the government to, the important question is if you can actually win.

But the company can just turn around and say, soz we don’t have your deposit. We invested it in Labubu dolls and they crashed in values. Also we lost them. Next time, DYOR.

If a bank collapses, you get your money back from the Fed, no questions asked.