Great update! I also saw most of your stream from the conference on day one so thanks for that! Regarding Tether, I have not researched it but the more I hear of it, it seems that they are implementing a type of money market fund. Money Market funds are regulated mutual funds that pegged their Net Asset Value to one dollar by holding cash and other short term investments. It could make sense but the auditing requirements are very strict given the representation of holding that value. They issue shares the same way Tether issues coins I guess. However, during extreme market events, they are under considerable risk to hold that value. I recall that during the financial crisis, a handful of Money Market funds "broke the dollar" meaning that their shares were worth less that $1 given losses in some of their short term positions. Therefore, unless transparency improves, I agree that the coin is very risky.