Tether is exiting and nobody noticed

I think the key feature of Tether that will be remembered for years to come is that the coin demonstrated that people are able to hold a currency at a given price by the power of their belief. Every currency, fiat or currency has value only because people believe they have value. Tether has taken that a step further and shown that belief can also keep a coin at a set value, in this case at one USD. What is really so interesting about this is that it demonstrates something that even governments cannot do. Remember when George Soros “broke” the Bank of England by betting that it could not keep the pound within a fixed trading limit? Tether’s stability WITHOUT holding enough underlying assets has been a very important lesson for the development of financial products.