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Re:Bitfinex and Tether required to end all trading activity ... by antb123 on Thursday February 25, 2021 @09:58AM (#26263386)
Backed by cash in a bank account doesn't mean that much. As you probably know any bank will take deposits and use them for loans.

Strangely USDT sells at a premium to USDC (audited) for years now.

My guess is it will slowly be replaced by an audited stable token if the market wants that.

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