Willy Woo: Tether outperformed many banks during a bank run, with 95% asset backing even in extreme scenarios. Crypto analyst Willy Woo shared a comparison chart of bank runs, showing that Tether (USDT) managed to fully redeem approximately 20–25% of redemptions in 2022, outperforming traditional banks like Silicon Valley Bank (25%) and First Republic Bank (57%). Woo pointed out that 77% of Tether's current assets are cash equivalents, with the rest in gold and Bitcoin, and a total over-collateralization of 3%. Even if volatile assets were to crash by 30% in extreme market conditions, USDT would still have 95% asset backing.