“As of June 2022, Tether allegedly had over $60 billion in assets but employed just 50 people.”
Tether has promised a public audit since 2017 and never delivered one. Its CFO is a former plastic surgeon, and the CTO’s wife went from frontend developer to COO of both Bitfinex and Tether in three years. Betting against it means borrowing USDT at 12.36% a year and waiting. The rest of crypto has every reason to keep it standing, and that is the whole bull case.