I get that people are looking for a flight to safety and relative stability of the dollar is attractive to those of us who use 3rd world currencies

USDT has become this #eurodollar market for those who didn't have access to USD on traditional rails but what is the cost of this "stability" ?

While I hear so much talk about de-dollarisation on the state level, it sure does look like hyperdollarisation on the individual level, when you see how large #USDT is becoming, and all this demand feeds into buying US treasuries

Tether registered a record-breaking $4.52 billion in profit for Q1 and has $110 billion market cap, that's capital still in the dollar system, that could have migrated to Bitcoin

Does stablecoin issuers buying of treasuries get them to a point where they become too big to fail? Or will this be the largest honeypot that ends up being a biblical rugging of liquidity?