\ (3) Tether is fully backed by USD but they can't fully say they have the reserves because by making statements like that they could be exposing themselves to libertydollar type prosecution.
what is libertydollar type prosecution, and what would be the downside of having USD reserves?
the guy got 20 years.
usd reserves means centralisation which means the money can be frozen or seized.
that's the whole point of bitcoin. that can't happen.