I love that these percentages add up to 110%, and even more so when comparing the dollar amount and associated percentages in relation to the original $100 and to each other.
The percentages add up. Are you certain that for every $100 in USDT they issue, they acquire another $2.94 in T-bills, $3.87 in cash, take out a secured loan for $12.55, and so on?
They could indeed have all of those percentages, in exactly that relationship, all combined worth... a million dollars. That would be far, far, far, far short of what it should be.
- $25 in my gas tank (50.0%)
- $10 in a crumpled bill in my pocket (20%)
- $15 of groceries that are in my fridge (40%)
don't worry about how much it adds up to or if it's liquid, it's backed