"Think about it: [USDC issuer] Circle had $3.3 billion of your reserves uninsured in the Silicon Valley Bank when it went bust," Lutnick said. "Tether and USDT hold treasuries which earn, like, 5-and-a-quarter percent interest. Why would you put $3.3 billion in an uninsured bank account earning 25 basis points, a quarter of a percent, and be uninsured?"

Why?

#asknostre