I can't speak to how well-backed their reserves are but the idea of a "wildcat bank" [0] almost certainly comes to mind whenever somebody mentions tether. Ever

I can't speak to how well-backed their reserves are but the idea of a "wildcat bank" [0] almost certainly comes to mind whenever somebody mentions tether. Everything old is new again. [0]: https://en.wikipedia.org/wiki/Wildcat_banking https://en.wikipedia.org/wiki/Wildcat_banking