ChainThink report: Cryptocurrency analyst Willy Woo released a chart on December 1st comparing bank runs to Tether (USDT). Despite experiencing a 20-25% redemption run in 2022, Tether managed to fully redeem its assets, outperforming traditional banks such as Silicon Valley Bank (25%) and First Republic Bank (57%). Woo noted that Tether currently holds 77% of its assets as cash equivalents, with the remainder allocated to gold and Bitcoin, resulting in a total over-collateralization rate of 3%. Even under extreme market conditions, with volatile assets dropping by 30%, USDT maintains 95% asset backing.