[jerguismi]

> It's crazy that they messed this up, Tether is basically a money printing machine, all they had to do was be solvent.

> Tether is a fundamentally a risk free money making concept

To me it sounds like you don't really understand the risks of tethers business. It is light-years away from being risk free, because you are on the mercy of the banks where you store the fiat. The banks can freeze your money any time, as they now did (AFAIK).

If you are operating a business with unclear regulation at this level, you can't really rely on banks like normal businesses can. The banks will cause problems with pretty high probability.

[tinco]

Well ok, maybe I should have said "theoretically risk free", I meant more in the economic sense. You are right of course, I guess in practice there's no 100% safe way to store billions worth of assets anywhere.

Though.. I can imagine there's a lot safer options than some small polish bank.

Maybe they could become a bank themselves to contain some of the external risks.

[jerguismi]

To become a bank you need an account at the central bank. Getting a banking license is difficult. And even after you get it, central bank can freeze your assets any time.