Tether was not a small player in 2017, not sure if you remember but people were already sounding the alarm bells about it. Obviously it's bigger now, but so is the whole market.
Having USDC to compete with USDT puts things in a less risky position, not more. All evidence points to USDC being fully backed. The "bank run" scenario this article alludes to seems like a huge stretch.
Having USDC to compete with USDT puts things in a less risky position, not more. All evidence points to USDC being fully backed. The "bank run" scenario this article alludes to seems like a huge stretch.