THIS. I'm concerned about a possible run on exchanges like there would be a bank run.
That said, I'm surprised Tether's price hasn't crashed vs the USD yet though it's creeping down.
I'm pleased that Bittrex are looking to have real USD though, it will be a safety net, and I think Binance are a very legit exchange who should be smart enough to take safety measures for such an event.
I just have a feeling we should prepare for the worst concerning Tether, if the Audit report comes out just like the way people have been speculating and the US government found them wanting, my fear is not even Tether, my fear is Bitfinex filing for bankcrucy and bring the market back to the time of Mgox