Rarely tether. But sure, US dollar notes aren't being squeezed into digits and sent over the wire.
More seriously traditional institutions aren't keen on pegging their fiat themselves, so other entities (not only tether) did it. If you don't like the smell of tether just ask Circle they have been audited by trads auditors even.
More seriously traditional institutions aren't keen on pegging their fiat themselves, so other entities (not only tether) did it. If you don't like the smell of tether just ask Circle they have been audited by trads auditors even.