“Always” only lasts as long as there’s a buyer willing to pay $1. Tether has repeatedly dodged any attempt to audit them to confirm if they really can pay.
We know USDT doesn’t actually hold a dollar for a dollar. Assuming they even pass an audit, it includes things such as but maybe not specifically real estate that don’t have relatively fixed values.
AFAIK usdc is actually better pegged. Dollars, bonds etc.
The only buyer you need for USDC would be circle or coinbase, you don’t need anyone else.
Edit: I don’t know what the status of the reserves would be should they go bankrupt though. E.g would a non usdc holder have any claim over the billions in usdc in a bankruptcy proceeding.
“Always” only lasts as long as there’s a buyer willing to pay $1. Tether has repeatedly dodged any attempt to audit them to confirm if they really can pay.
Because they would 110% fail any audit. The 2nd most blatant crypto scam behind the bitcoin block size. It’s amazing how dumb these buyers can be.
We know USDT doesn’t actually hold a dollar for a dollar. Assuming they even pass an audit, it includes things such as but maybe not specifically real estate that don’t have relatively fixed values.
AFAIK usdc is actually better pegged. Dollars, bonds etc.
The only buyer you need for USDC would be circle or coinbase, you don’t need anyone else.
Edit: I don’t know what the status of the reserves would be should they go bankrupt though. E.g would a non usdc holder have any claim over the billions in usdc in a bankruptcy proceeding.