Willy Woo: Tether performed better than several banks during the bank run, still having 95% asset backing in extreme cases.

According to Mars Finance, crypto analyst Willy Woo released a comparison chart of bank runs. Tether (USDT) fully redeemed during a redemption wave of about 20–25%, outperforming traditional banks like Silicon Valley Bank (25%) and First Republic Bank (57%). Woo pointed out that Tether's current assets are 77% cash equivalents, with the rest in gold and Bitcoin, totaling over-collateralization of 3%. Even if volatile assets fall by 30% in extreme market conditions, USDT still has 95% asset support.