If USDT/USD tanks because tether doesn’t actually have the t bills or whatever else in their coffers, wouldn’t bitcoin also crash if a big chunk of it was bought with worthless USDT? (Quite honestly I think people would just scoop it up like post FTX)

But really the only difference I see between the collapse risk of USD from banks and from tether is that if tether does implode, the government has a possible political issue with bailing out a foreign company whereas they don’t with US banks—although does anyone care anymore, they prop up many cross national corporations all the time