Tether claims they were ready for this bank run
Tether CTO, Paolo Ardoino, told us last month that Tether was prepared for a bank run. Ardoino and the Tether team have run models to simulate a 2008-style financial crisis and believe that it will continue to be able to honor all redemptions even if a similar situation occurs.
Tether’s peg to the US Dollar was rocked yesterday as it fell to $0.95 on major exchanges such as Binance.US and Coinbase. The token traded below $0.995 for the longest time since March 2020 closing several four-hour candles below the 0.005 level. Currently, it has recovered to$0.993 and it looks like the peg may soon be restored. If the peg does come back then Tether.
Source
https://t.me/Crypto_Futures_Trading
