Kan Tether orsaka en stor cryptocrash snart?

Tether reserves the right to delay the redemption or withdrawal of Tether Tokens if such delay is necessitated by the illiquidity or unavailability or loss of any Reserves held by Tether to back the Tether Tokens, and Tether reserves the right to redeem Tether Tokens by in-kind redemptions of securities and other assets held in the Reserves. Tether makes no representations or warranties about whether Tether Tokens that may be traded on the Site may be traded on the Site at any point in the future, if at all.

Lutnick also defended Tether (USDT), for which Cantor Fitzgerald acts as a custodian. "We hold their money. USDT is fundamentally different than USDC because USDT holds treasuries and primary dealer Cantor Fitzgerald can liquidate those treasuries and meet your redemptions without fail," Lutnick said.

"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?"

Lutnick also defended Tether against accusations that it's used by unsavory groups such as Hamas. "Let me make it crystal clear: we would never be associated with a company that has anything to do with Jihad, and it disgusts me...someone parked a truck in front of my office saying Tether is associated with Hamas. What a bunch of crap, seriously outrageous and knowingly false," said Lutnick, his voice rising to a shout, after reminding the audience that Cantor Fitzgerald lost hundreds of employees in the 9/11 terrorist attacks.

BDO (an acronym for Binder Dijker Otte) is an international network of public accounting, tax, consulting and business advisory firms that provide professional services under the name BDO. It is the fifth-largest accounting network in the world.