There's a certain percentage of Tether that is never going to be redeemed because the keys were lost. They can't like redeem that there to their benefit though, right? Like they have to keep that out there. I don't see the need to commit the fraud. Also there's plenty of places to park those treasuries. We know enough about it to know that these things exist and that there's various service providers that manage it.

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode