Thanks Sam, I picked up on that with your Coindesk interview.
A few years back you mentioned you didn’t class Tether as a stable coin because of it’s redemption fees and it was a liability to hold too much - I notice FTX uses a lot of Tether now, what has changed?
FTX does take deposits/withdrawals of USDT and has markets for it.
However USDT is *not* part of the 'USD' basket. So e.g. USDC is fungible with USD on FTX; USDT isn't.