Tether has the ability to print USDT "out of thin air" and (as crypto pros know) Tether has been printing USDT "out of thin air" as and when needed. Hence, Tether is able to pull or push USDT in order to ensure that it remains pegged to the US Dollar.
Binance is totally safe and it is an EXTREMELY cash rich company. It has "any time" access to highly discounted (very cheap) USDT which Tether prints "out of thin air" exclusively for Binance.
Both, Binance and USDT are safe and no need to worry, no need to panic about Binance and USDT.
The chances of the US Dollar collapsing is actually higher that the chances of Binance and / or USDT collapsing. US Dollar may collapse and that is another story.
Make a note of the link to this page or to this reply of mine in this page and if ever Binance and / or USDT do collapse, do not forget to slap me on my face, please (it ain't gonna happen).
USDT is not mined and it is not decentralized in nature. It has an entity, the company Tether, that issues (mints) and destroys (burns) USDT tokens to adjust the supply of coins to user demand.
In the case of some "algorithmic" stablecoins, for example Tron’s USDD, keep the exchange rate or "price" is maintained with trading incentives and the automatic minting & burning of their respective tokens with the help of a twin token which absorbs any volatility without the need of any outside reserve asset.
However, USDT does not operate that way and this is because in Tether, it is not an algorithm that decides when to burn or mint tokens according to demand. Tether has the ability to simply print USDT and hence, able to pull or push USDT in order to ensure that it remains pegged to the US Dollar. Binance has unlimited access to buying cheap discounted USDT from Tether. Both, USDT and Binance are totally safe as far as supply/money/stability, etc is concerned.
