That low? I thought it would be much higher. A large proportion of dollars would effectively become illiquid without credit expansion. It's crazy how dependent the dollar system is on the continual creation and circulation of credit.

Does tether just get to keep it then? If its frozen, they dont need to honor a possible withdrawal.

Frozen how? If its locked up in defi thats one thing but if its locked into an account then thats a whole other story.