I think they only had two big ones. One was around the time they had no banking, the other was when Phil Potter left.

My point wasn’t that the redemptions routinely happen. My point was that it does matter if no one can redeem, because eventually that will cause the peg to break and USDT to become worthless.

I wasn’t arguing redemptions will be honoured en masse.

Though interestingly Tether supply has gone very slightly down since June.