Banks aren’t safe. They are fractionally reserved, and that means they can get “rekt” in a bank run. So says Adam Back, CEO of Blockstream.
The stablecoin Tether, in contrast, is “overcollateralised”, which means it has more reserves than its issued stablecoins. So it’s not at risk of getting rekt in a bank run.
Ergo, Tether is safer than banks.
There’…
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