[johnasmith]

The way it's meant to work is tether acts as a market maker, always willing to buy and sell tokens at parity. Nobody would buy below that if they know tether is around. Tether, having issued the coins, should have sufficient capital to play that role. But if they spend too much of their capital, they lose the ability to fulfill their role.

[tcbawo]

Could a drop in the value of USDT represent a rush to get back into Bitcoin, Ethereum, etc after the recent fall rather than people attempting to convert USDT to dollars?