Not least because stablecoins were meant to be the place to park your money without being subject to the huge +/- swings or risks of almost any other asset. If people are suffering, it’s because they believed the operators of stablecoins when they said funds were in the safest place going. And now look at today: Tether says it is honouring all redemptions as usual — which, as usual, means only redemptions over $100K are honoured. The small fish can go cry, apparently, or try an exchange at the market price whose detachment from $1 is the whole reason for a run on Tether. Take the concept of FDIC insured bank deposits, turn it completely on its head, and that’s what this policy is.